Terri Is Enrolled in Her First Economics Course

question 123

Multiple Choice

Terri is enrolled in her first economics course.She is required to give a presentation about the circular flow.Which of the following statements should she include in her presentation?

• A) Households choose the amount of the factors of production to provide the firms.
• B) Firms choose the amount of the factors of production to provide households.
• C) Households receive wages for the amount of entrepreneurship they provide firms.
• D) Firms pay wages for the amount of entrepreneurship they provide households.
• E) The flows of goods and services and payments for the goods and services flow in the same direction.

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Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage rate over the period of the loan, or the return earned on investments.

Annual Interest

The amount of interest paid or earned over one year, often expressed as a percentage of the principal.

Blown Fuse Indicators

Devices that provide a visual or electronic signal indicating that a fuse has interrupted the circuit it protects due to an overcurrent condition.

Input Modules

Components of a control system that interface with and process signals from sensors or other input devices, converting them into a format suitable for the controller.