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In a Circular Flow Diagram, I) the Value of Production

Question 214

Multiple Choice

In a circular flow diagram, i) the value of production = income
Ii) the value of production = expenditure
Iii) expenditure = income


A) i, ii and iii are true statements.
B) only iii is a true statement.
C) i and ii are true statements.
D) i and iii are true statements.
E) only i is a true statement.

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