Question

In the circular flow diagram profit flows from the product market to the firms. revenue flows...

In the circular flow diagram

profit flows from the product market to the firms.

revenue flows from the resource market to the households.

consumer spending flows from the product market to the households.

consumer spending flows from the product market to the firms.

consumer spending flows from households to the product market.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
22. In a circular flow diagram, what does the financial flow from business firms to households...
22. In a circular flow diagram, what does the financial flow from business firms to households consist of?                    Expenditures on goods and services           Payments for resources           Real goods and services           Taxes and transfer payments 24. Which 2 sectors of the macro-economy are included in a 2-sector circular flow diagram? (check all that apply)                 Business firms           Government           Households           International trade           Labor 25. What does BLS say is the current natural rate of unemployment?                    4.0%           5.5%           10.2%...
In the circular flow model, money flows from: Select one: a. the government to firms for...
In the circular flow model, money flows from: Select one: a. the government to firms for goods and services. b. the government to households for taxes. c. firms to foreign economies for exports. d. foreign economies to households for exports.
According to the circular-flow diagram, GDP a. can be computed as payments firms make to factors...
According to the circular-flow diagram, GDP a. can be computed as payments firms make to factors of production plus revenues they receive from the sales of goods and services. b. can be computed as the revenue firms receive from the sales of goods and services minus the payments they make to factors of production. c. can be computed as either the revenue firms receive from the sales of goods and services or the payments firms make to factors of production....
According to the circular-flow diagram, GDP a. can be computed as payments firms make to factors...
According to the circular-flow diagram, GDP a. can be computed as payments firms make to factors of production plus revenues they receive from the sales of goods and services. b. can be computed as the revenue firms receive from the sales of goods and services minus the payments they make to factors of production. c. can be computed as either the revenue firms receive from the sales of goods and services or the payments firms make to factors of production....
In the circular flow diagram, 1) income and spending in the model are never equal. 2)...
In the circular flow diagram, 1) income and spending in the model are never equal. 2) the value of the goods and services produced in the economy and income cannot be the same. 3) the only player is households. 4) income must always equal spending which equals the value of goods and services produced in the economy.
In the simple Circular Flow Model, we use output and input markets to connect households and...
In the simple Circular Flow Model, we use output and input markets to connect households and firms together. Which of the following statements about the market is NOT correct? Output market is where firms provide goods and services to households. Input market is where households sell or lease their labour, capital and human capital. Output market is where firms exchange goods and services for revenue. Input market is where households spend income on buying goods and services.
Problem 2 The Circular Flow Model Please answer the following questions a true or false. 1....
Problem 2 The Circular Flow Model Please answer the following questions a true or false. 1. There are three economic actors in our circular flow model: households, firms and markets. 2. The ultimate goal for households is to acquire goods and services. 3. The ultimate goal for firms is to acquire land, labor and capital. 4. The following are all factors of production - land, labor, capital, and goods and services 5. Firms own the factors of production. 6. The...
In the circular-flow diagram, firms produce a. goods and services using factors of production. b. output...
In the circular-flow diagram, firms produce a. goods and services using factors of production. b. output using inputs. c. factors of production using goods and services. d. Both (a) and (b) are correct.
1) In a market economy, most choices about production and consumption are made by which of...
1) In a market economy, most choices about production and consumption are made by which of the following? a)politicians b)many individuals and firms c)the government d)managers e)economists 2) Which of the following is true of the circular flow model? Firms are supplier in both the product and resource markets. Firms/businesses demand products in the resource market and supply other things in the product market. Households demand for goods in both the resource and product markets. The private sector includes the...
1)Construct and label the circular flow diagram. Separate from the diagram, itemize each element and flow...
1)Construct and label the circular flow diagram. Separate from the diagram, itemize each element and flow in the diagram and give very detailed descriptions of each of them. Be sure to cover all the main attributes/functions of each element and flow. Be sure to use the red/green/blue color code, as well as produce all proper labels and the guide on the diagram.