Which of the following is true? The simple circular-flow diagram I. includes only the product markets. II. includes only the factor markets. III. is a simplified representation of the macroeconomy. a. I only b. II only c. III only d. I and III only e. none of the above | Numerade
Which of the following is true? The simple circular-flow diagram I. includes only the product markets. II. includes only the factor markets. III. is a simplified representation of the
VIDEO ANSWER: Which of the following is true? The simple circular-flow diagram I. includes only the product markets. II. includes only the factor markets. III.…
numerade.comJun 6, 2023
Circular flow of income Circular Flow Diagram
SOLVED: If box A represents businesses or firms, B the resource market, and C households, and if flow (7) represents goods and services, then flow (6) would represent goods and services.Use the following circular flow diagram to answer the question below:(1)B(3)(2)(4)AC(7)5(8)D6
SOLVED: If box A represents businesses or firms, B the resource market, and C households, and if flow (7) represents goods and services, then flow (6) would represent goods and services.Use the following circular flow diagram to answer the question below:(1)B(3)(2)(4)AC(7)5(8)D6
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