In a Simple Circular-Flow Diagram, Total Income and Total Expenditure

question 221

Multiple Choice

In a simple circular-flow diagram, total income and total expenditure are

• A)never equal because total income always exceeds total expenditure.
• B)seldom equal because of the ongoing changes in an economy's unemployment rate.
• C)equal only when the government purchases no goods or services.
• D)always equal because every transaction has a buyer and a seller.

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Definitions:

Harlem Renaissance

An intellectual, social, and artistic explosion centered in Harlem, New York, during the 1920s, celebrating African American cultural expression.

Artistic Expression

The use of creative skills in the form of art to convey feelings, thoughts, or ideas.

Conditioned Stimulus

In classical conditioning, a previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually comes to trigger a conditioned response.

Unconditioned Stimulus

In classical conditioning, a stimulus automatically elicits a response without the need for prior learning.