Multiple Choice
Refer to the circular flow model of the economy.In the diagram flow (3) represents:
A) wage, rent, interest, and profit income.
B) land, labour, capital, and entrepreneurial ability.
C) goods and services.
D) consumer expenditures.
Correct Answer:
Verified
Correct Answer:
Verified
Q34: Which is not one of the Five
Q35: The Canadian economy most closely approximates:<br>A)mixed capitalism<br>B)a
Q36: The "invisible hand" concept suggests that:<br>A)changes in
Q37: Today, China's economy most closely approximates:<br>A)pure capitalism<br>B)a
Q38: Property rights do not encourage people to
Q40: The use of money for exchange:<br>A)increases the
Q41: The most important consequence of property rights
Q42: Property rights are important because they:<br>A)encourage investment
Q43: Households and businesses are both suppliers in
Q44: Which would not be characteristic of a