The circular flow model shows the relationships between
A) government and business firms.
B) government and households.
C) households and business firms.
Correct Answer:
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Q114: As an economy modernizes and its standard
Q115: Adam Smith
A)was a Scottish professor of philosophy.
B)wrote
Q116: Which one of the following is a
Q117: Each of the following is a characteristic
Q118: Statement I.The circular flow model oversimplifies the
Q120: A public good is
A)a good deed done
Q121: Which of the following statements is false?
A)Critics
Q122: Statement I: In a centrally planned economy,consumers
Q123: In the circular flow model,households
A)demand resources and
Q124: To have competition as economists define it,
A)you
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