As the Circular Flow Model Points Out,a Choice That Households

question 14

Multiple Choice

As the circular flow model points out,a choice that households make is how

• A)much labour is hired.
• B)much the government will collect in taxes and how much the government will spend on transfer payments.
• C)many resources a firm will hire.
• D)many goods and services are produced.
• E)many goods and services are purchased.

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Definitions:

Cognitive Explanation

An understanding or interpretation focusing on mental processes such as perception, memory, and reasoning.

UCS

An abbreviation for Unconditioned Stimulus, a stimulus that naturally and automatically triggers a response without prior conditioning.

Instinctive Behaviour

Inborn, automatic responses to specific stimuli that are not learned but rather naturally occur in all members of a species.

Conditioning

The process of learning associations between environmental stimuli and behavioral responses, often distinguished as classical or operant conditioning.