Multiple Choice
The simple circular flow model shows that _____.
A) firms supply inputs to households and households supply output to firms
B) households supply goods and services to the economy
C) firms supply output to households and households supply inputs to firms
D) households supply both output and inputs to the economy
Correct Answer:
Verified
Correct Answer:
Verified
Q3: The following figure shows the business cycle
Q4: Which of the following will occur when
Q5: Explain the Organisation for Economic Co-operation and
Q6: During a recession, a firm that faces
Q7: In the early 2010s the UK economy
Q9: The level of aggregate demand in an
Q10: In the circular flow model, households offer
Q11: In an inflationary recession, _.<br>A) national output
Q12: Net exports is equal to _.<br>A) exports
Q13: Firms that have high fixed costs tend