The Following Question Are Based on the Following Circular Flow

question 4

Multiple Choice

The following question are based on the following circular flow diagram:

-In a simple circular flow model of an economy

• A) households buy factors of production from businesses.
• B) the flow of income to households from businesses is greater than the flow of expenditures by households for goods produced by businesses.
• C) businesses buy final goods and services produced by households.
• D) the total amount of labor hours worked equals the total number of goods produced.
• E) households are owners of resources and purchasers of final goods and services.

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Definitions:

CIO

Congress of Industrial Organizations, a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 until its merger with the AFL in 1955.

Operation Dixie

A campaign launched by the Congress of Industrial Organizations in the 1940s aimed at unionizing industrial workers across the Southern United States, facing considerable resistance.

CIO

Congress of Industrial Organizations, an federation of unions that organized workers in industrial unions in the United States and Canada from 1935 until 1955.

Interracial Workforce

A workforce composed of employees from various racial backgrounds working together in a professional environment.