Multiple Choice
The circular flow diagram shows that
A) the value of total income is equal to the total value of expenditures on final goods and services.
B) firms pay households wages, and households receive transfer payments from firms.
C) households spend all their income on goods and services.
D) GDP will be less than the total value of expenditures on final goods and services in the economy.
E) firms own all factors of production.
Correct Answer:
Verified
Correct Answer:
Verified
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