Multiple Choice
Refer to the diagram of the circular flow of income. The key lessons from this diagram are that:
(i) all flows of resources are matched by flows of money.
(ii) the market value of total output must be equal to total spending.
(iii) total spending must equal total income.
(iv) all inputs are provided by businesses.
A) (i) and (iv)
B) (ii) and (iii)
C) (i) , (ii) , and (iii)
D) (i) , (ii) , (iii) , and (iv)
Correct Answer:

Verified
Correct Answer:
Verified
Q163: Refer to the diagram of the circular
Q164: (Table: Lemonade and Cookies) Use Table:
Q165: In 2017, Canada's GDP was approximately $1.57
Q166: During 1994 and 1995, nominal GDP in
Q167: Refer to the diagram of the circular
Q169: Consider the data shown in the
Q170: Based on the following statistics, how
Q171: Consider the data shown in the
Q172: Refer to the diagram of the circular
Q173: Refer to the diagram of the circular