Multiple Choice
In the simple circular-flow diagram,
A) households own the factors of production.
B) households buy all the goods and services that firms produce.
C) land,labor,and capital flow from households to firms.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q160: In the simple circular-flow diagram, the participants
Q180: The goal of an economist who formulates
Q181: Economic models<br>A)are constructed to mirror reality as
Q182: Economists build economic models by<br>A)generating data.<br>B)conducting controlled
Q185: The country of Gerance produces two goods,cars
Q186: Which of the following statements applies to
Q187: The simple circular-flow diagram is a model
Q188: An assumption an economist might make while
Q189: Figure 2-10<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-10
Q239: In the markets for goods and services