Which of the Following Statements Is True About a Simple

question 30

Multiple Choice

Which of the following statements is true about a simple circular flow model?

• A)Producers are neither buyers nor sellers in the product market.
• B)Households are neither buyers nor sellers in the input market.
• C)Producers are buyers in the factors market.
• D)Households are sellers in the product market.

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Definitions:

Disloyal

Referring to a lack of loyalty or faithfulness, especially to a country, government, or cause.

Organized Labor

Refers to unions or groups of workers who band together to negotiate for better working conditions, wages, and benefits.

McCarthyism

Post–World War Ⅱ Red Scare focused on the fear of communists in U.S. government positions; peaked during the Korean War; most closely associated with Joseph McCarthy, a major instigator of the hysteria.

Foreign Policy

A country's strategies and decisions in relation to its interactions with other nations, concerning diplomacy, military actions, trade, and treaties.