A Circular-Flow Diagram Is a Model That

question 43

Multiple Choice

A circular-flow diagram is a model that

• A)helps to explain how participants in the economy interact with one another.
• B)helps to explain how the economy is organized.
• C)incorporates all aspects of the real economy.
• D)Both (a)and (b)are correct.

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Definitions:

FDA

The Food and Drug Administration, a federal agency of the United States responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Predictions

Statements about what will happen in the future based on current information or trends.

Testable

Capable of being examined and evaluated through experimentation or observation to verify the truth or effectiveness.

Hypothesis

A proposed explanation for a particular set of phenomena.