The Figure Above Shows the Circular Flow Model

question 28

Multiple Choice

The figure above shows the circular flow model.
-In the figure above,which of the following represents a real flow of a factor of production?

• A) Labor
• B) Wages
• C) Goods bought
• D) Services sold
• E) Firms' expenditures on factors of production

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Definitions:

Syntax

The set of rules, principles, and processes that govern the structure of sentences in a language, specifically the arrangement of words and phrases.

Cross-Sectional

A type of observational study that analyzes data of variables collected at one given point in time across a sample population.

Longitudinal Designs

Research studies that track the same subjects over a period of time, allowing for observation of changes and developments.

Sequential

Pertaining to or characterized by a sequence, where one element follows another in a specific order.