The circular flow model
A) describes microeconomic activity within a capitalist system.
B) explains the effect of government-imposed price controls.
C) focuses on aggregate economic activity.
D) illustrates the consequences of minimum-wage legislation.
E) ignores the role of international trade.
Correct Answer:
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Q69: Which of the following statements is true?
A)
Q70: The money that businesses pay for resources
Q71: The factors of production owned by households
Q72: The U.S. federal government had a budget
Q73: A budget surplus is
A) the excess that
Q75: The resource market does not incorporate the
Q76: In the circular flow model, businesses
A) own
Q77: The circular flow model
A) shows the flow
Q78: _ in all circular flow diagrams.
A) Foreign
Q79: The circular flow of income model shows
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