Which of the following is the role that is played by the government in the circular flow diagram?
A) It provides goods and services to households and firms and pays for these using taxes.
B) It provides resources to product markets in exchange for factor income and provides goods and services to households.
C) It provides goods and services in factor markets and provides goods and services to firms.
D) It provides more goods and services to households and firms than it collects in the form of taxes.
Correct Answer:
Verified
Q48: In the circular flow diagram, what flows
Q49: In the circular flow diagram, what flows
Q50: In the circular flow diagram, what flows
Q51: In the circular flow diagram, _ are
Q52: Which of the following statements is correct
Q54: A situation is considered efficient if:
A) there
Q55: The economist who developed the idea of
Q56: The central objective that firms, households, and
Q57: Economists evaluate an allocation of resources as
Q58: There are 12 cookies to be distributed
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents