In the circular flow model, resources flow from the households to the firms.
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Q1: All natural resources are nonrenewable.
Q2: Economics is similar to other social science
Q3: Consumer sovereignty refers to a situation in
Q5: Economic models are abstractions from reality.
Q6: The circular flow model shows the government
Q7: The statement that a monopoly raises the
Q8: Economic forecasting has improved tremendously in the
Q9: Econometrics is the use of statistics to
Q10: Economic models have become much simpler in
Q11: Economic forecasting has proven no better than
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