The circular flow model illustrates the crucially important idea of macroeconomics, which is that:
A) every expenditure of someone in the economy is exactly equal to the income of another.
B) only two markets exist in every economy-input and output.
C) income is lower when there is more spending on goods and services.
D) the flow of two things in the economy-"stuff" and "money"-travel in the same direction.
Correct Answer:
Verified
Q36: A Chinese restaurant buys 10 cups of
Q37: The goods and services that count toward
Q38: An example of a good or service
Q39: An example of a good or service
Q40: Suzi is a British citizen who works
Q42: Using the expenditure method to estimate GDP,
Q43: U.S. Gross Domestic Product includes goods produced
Q44: One way to estimate GDP is to:
A)
Q45: One of the most crucial ideas in
Q46: If we add up all the money
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents