Exhibit 1.1 -Refer to the Circular-Flow Model in Exhibit 1.1. Box B

question 121

Multiple Choice

Exhibit 1.1

-Refer to the circular-flow model in Exhibit 1.1. Box B represents:

• A) firms.
• B) resource markets.
• C) households.
• D) product markets.
• E) expenditures.

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Definitions:

Categorical

Relating to data or variables that represent categories, allowing for data to be organized based on characteristics or qualities rather than numerical values.

Interval

Refers to a range of values between two points, often used in the context of measurements or time periods.

Pivot Table

A data summarization tool that is used in data processing and analytics to rearrange or pivot data to summarize, analyze, explore, and present summary data.

Microsoft

A multinational technology company known for its software, hardware, and services related to computing.