In the Circular Flow Diagram Model

question 15

Multiple Choice

In the circular flow diagram model:

• A) households receive income from businesses in exchange for providing inputs and use that income to buy goods and services from businesses.
• B) businesses receive revenues from households in exchange for providing goods and services and use those revenues to buy inputs from households.
• C) households receive revenue for selling goods and services to businesses, and use that revenue to buy inputs from businesses.
• D) Both a) and b) are correct.

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Definitions:

Artificial Neural Networks

Computational models inspired by the human brain's interconnected network of neurons, used to conduct machine learning tasks by processing complex data inputs.

Expert Systems

Computer programs designed to carry out highly specific functions within a limited domain.

Cyborgs

Beings with both organic and biomechatronic body parts, often referenced in science fiction to describe a human with artificial enhancements.

Morphemes

The smallest units of meaning in a language.