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.

Question

Quizplus · Accepted Answer

In a circular flow diagram, the value of production equals income, the value of production equals expenditure, and expenditure equals income, reflecting the flow of money and resources in an economy.

In a Circular Flow Diagram