In a Circular Flow Diagram, I) the Value of Production

question 231

Multiple Choice

In a circular flow diagram, i) the value of production = income
Ii) the value of production = expenditure
Iii) expenditure = income

• A)i, ii and iii are true statements.
• B)Only iii is a true statement.
• C)i and ii are true statements.
• D)i and iii are true statements.
• E)Only i is a true statement.

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Definitions:

Forcing Function

A forcing function is an external function or action applied to a system that drives its response, often used in differential equations to model external influences.

PLC

A Programmable Logic Controller is a ruggedized digital computer used for the automation of various electromechanical processes, such as control of machinery on factory assembly lines.

Programming Device

A tool or equipment used to program the firmware or software of electronic devices, often used in manufacturing, development, or maintenance.