-Refer to the above figure. The top two arrows of the figure refer to the product markets. The bottom arrows refer to the factor markets. Which arrow represents total income?
A) Arrow A
B) Arrow B
C) Arrow C
D) Arrow D
Correct Answer:
Verified
Q49: Profits are part of the
A) total income.
B)
Q50: In the simple circular flow
A) businesses trade
Q51: In the simple circular flow model, total
Q52: Where does profit enter in the circular
Q53: Explain the concept of the circular flow.
Q55: Which of the following would most likely
Q56: In the product market
A) businesses trade goods
Q57: The dollar value of final output
A) is
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