In the markets for goods and services in the circular-flow diagram,
A) households provide firms with savings for investment.
B) households provide firms with labor, land, and capital.
C) firms provide households with output.
D) firms provide households with profit.
Correct Answer:
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Q212: Economists make assumptions to
A)minimize the number of
Q213: In the simple circular-flow diagram, the participants
Q214: Another term for factors of production is
A)inputs.
B)output.
C)goods.
D)services.
Q215: Figure 2-1 Q216: In the circular-flow diagram, Q218: Which of the following transactions does not Q219: Which of the following is an example Q220: The inner loop of the circular-flow diagram Q221: Suppose a nation is currently producing at Q222: Where can an economy not produce?
A)factors of production flow
A)Inside its
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