In the Circular Flow Model,the Expenditures on Goods and Services

question 93

Multiple Choice

In the circular flow model,the expenditures on goods and services flow in the

• A) same direction as goods and services in all cases.
• B) same direction as goods and services only if they both flow through the goods market.
• C) same direction as goods and services only if they both flow through the factor market.
• D) opposite direction as goods and services.
• E) same direction as factor markets.

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Definitions:

Tradition

The transmission of customs, beliefs, or cultural practices among generations, often providing a sense of heritage and identity.

Equality

The state or quality of being equal, especially regarding status, rights, and opportunities without discrimination on the basis of characteristics such as race, gender, or age.

Personal Control

The extent to which individuals believe they can control events affecting them.

Ethical Beliefs

Principles and values that govern the conduct of an individual or organization in terms of right and wrong.