Multiple Choice
The circular flow of income illustrates
A) the flows of expenditures and income in a household.
B) that there is no relationship between goods markets and factor markets.
C) that firms own the factors of production.
D) the interaction of households and firms through the factors and goods markets.
E) that the flow of payments moves in the same direction as the flow of goods.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Complex economic plans for many economic sectors
Q37: An insight first fully developed by Adam
Q38: Consider a production possibilities boundary showing the
Q39: Which countries have mostly public ownership of
Q41: The opportunity cost of going to college
Q43: Specialization of labour means that<br>A)job security is
Q44: With regard to various economic systems, most
Q45: Specialization and trade<br>A)developed only where government and
Q46: In traditional economies, economic behaviour is<br>A)based primarily
Q47: Economics can best be described as<br>A)the application