In the Circular Flow Diagram, Revenues and Goods and Services

question 83

Multiple Choice

In the circular flow diagram, revenues and goods and services flow:

• A)in opposite directions but are on the same side of the diagram.
• B)in the same direction but are on the same side of the diagram.
• C)in either direction as they are not correlated.
• D)in opposite directions and are on opposite sides of the diagram.

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Definitions:

Time and a Half

A pay rate that is 1.5 times the employee's normal hourly rate, usually paid for overtime work.

OASDI

Stands for Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that provides benefits to retired individuals, the disabled, and survivors of deceased workers.

Double Time

A rate of payment that is twice the regular wages, often paid for working on holidays or outside of normal working hours.

Time and a Half

An overtime pay rate, typically 1.5 times the employee's regular hourly wage, paid for hours worked beyond the standard workweek.