The circular flow of economic activity is a model of the:
A) flow of goods, resources, payments, and expenditures between the sectors of the economy.
B) influence of government on business behavior.
C) influence of business on consumers.
D) role of unions and government in the economy.
Correct Answer:
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Q2: Payments to households not in exchange for
Q3: GDP is a measure of:
A) domestic production.
B)
Q4: Based on the circular flow model, goods
Q5: The circular flow model assumes:
A) businesses and
Q6: GDP:
A) is the dollar value of all
Q9: Which of the following expenditures would be
Q10: Which one of the following transactions would
Q10: Which of the following market transactions of
Q11: Economic values that are measured in units
Q12: Gross domestic product (GDP) includes:
A) intermediate as
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