The factor market can best be described as where
A) households buy goods and services.
B) firms buy goods and services.
C) firms buy the services of labor, land and capital.
D) governments sell goods and services.
Correct Answer:
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Q24: In the circular flow diagram, aggregate expenditure
Q25: The circular flow diagram shows
A) how nominal
Q26: Q27: Double counting (counting the same thing twice) Q28: In the circular flow of income Q30: In the circular flow model of an Q31: If we compare the four sources of Q32: The circular flow diagram indicates that Q33: In computing GDP, it is essential to Q34: In the circular flow of economic activity
A) households
A) households
A)
A)
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