The circular-flow diagram is a
A) visual model of how the economy is organized.
B) visual model of the relationships among money, prices, and businesses.
C) model that shows the effects of government on the economy.
D) mathematical model of how the economy works.
Correct Answer:
Verified
Q51: Economic models are built with
A)recommendations concerning public
Q53: Which of the following items is not
Q55: The two loops in the circular-flow diagram
Q56: A circular-flow diagram is a model that
A)helps
Q57: Which of these statements about economic models
Q62: In the markets for goods and services,
A)households
Q70: Which two groups of decision makers are
Q74: In the simple circular-flow diagram,
A)households own the
Q94: In the circular-flow diagram,
A)factors of production flow
Q101: Among economic models,the circular-flow diagram is unusual
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