Multiple Choice
A circular-flow diagram is a model that
A) helps to explain how consumers and the government interact with one another.
B) explains how countries trade with each other.
C) incorporates all aspects of the real economy.
D) helps to explain how the economy is organized.
Correct Answer:

Verified
Correct Answer:
Verified
Q157: The art in scientific thinking-whether in chemistry,
Q158: Economists at which administrative department help design
Q159: "Society would be better off if the
Q160: In the simple circular-flow diagram, the participants
Q161: If new government regulations designed to protect
Q163: When a relevant variable that is not
Q164: Figure 2-3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 2-3
Q165: "Other things equal, an increase in supply
Q166: Is the following a positive or normative
Q167: A circular-flow diagram is a visual model