Multiple Choice
The simple circular-flow diagram is a model that includes only some key players in the real economy.Which of the following key players are omitted from the simple circular-flow model?
A) households
B) firms
C) government
D) markets for factors of production
Correct Answer:

Verified
Correct Answer:
Verified
Q182: Economists build economic models by<br>A)generating data.<br>B)conducting controlled
Q184: In the simple circular-flow diagram,<br>A)households own the
Q185: The country of Gerance produces two goods,cars
Q186: Which of the following statements applies to
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
Q190: Figure 2-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-2
Q191: A macroeconomist - as opposed to a
Q192: In the circular-flow diagram,<br>A)firms are buyers in
Q239: In the markets for goods and services