The circular flow model
A) shows the flow of output and income within one sector of the economy.
B) illustrates how different sectors of the economy are linked together.
C) shows that income is rarely equal to output.
D) illustrates how business firms interact with one another.
E) shows how businesses sell their resource services to households.
Correct Answer:
Verified
Q72: The U.S. federal government had a budget
Q73: A budget surplus is
A) the excess that
Q74: The circular flow model
A) describes microeconomic activity
Q75: The resource market does not incorporate the
Q76: In the circular flow model, businesses
A) own
Q78: _ in all circular flow diagrams.
A) Foreign
Q79: The circular flow of income model shows
Q80: Financial intermediaries are best described as
A) institutions
Q81: Figure 9.1 Q82: A household consists of two or more
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