In Terms of the Circular flOw Diagram, Businesses Obtain Revenue

question 267

Multiple Choice

In terms of the circular flow diagram, businesses obtain revenue through the _____ market and make expenditures in the _____ market.

• A) product; financial
• B) resource; product
• C) product; resource
• D) capital; product

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Definitions:

Northern Cities

Northern Cities refers to urban areas located in the northern part of a country or region, often characterized by specific socioeconomic and cultural traits.

Wartime Economy

An economic phase characterized by the reallocation of resources, production, and labor towards military efforts during times of war.

Revenue Act of 1916

A United States federal law that aimed to increase tax revenues for the preparation of World War I, imposing an excess profits tax and increasing estate and income taxes.

Espionage Act

A United States federal law passed in 1917 that was designed to prevent the support of U.S. enemies during wartime, making it a crime to promote insubordination in the military or to interfere with military recruitment.