A circular-flow diagram is a model that
A) helps to explain how participants in the economy interact with one another.
B) helps to explain how the economy is organized.
C) incorporates the markets for the factors of production.
D) All of the above are correct.
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
Q57: The circular-flow diagram is a
A)visual model of
Q57: Which of these statements about economic models
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
Q174: In constructing models,economists
A) leave out equations,since equations
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