In a Simplified Circular Flow Model with No Government, in Equilibrium

question 187

True/False

In a simplified circular flow model with no government, in equilibrium, S = I + (X − IM).

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Definitions:

Resulting Trust

An implied trust that arises when one party holds the legal title to another’s property only for that other’s benefit.

Probate

The legal process through which a deceased person's will is validated, and their estate is distributed to heirs and beneficiaries.

Constructive Trust

A constructive trust is an equitable remedy imposed by a court to address wrongful conduct, such as fraud or unjust enrichment, creating a fiduciary relationship over the property for the benefit of the wronged party.

Entitled

Having a legal right or a just claim to receive or do something.