In the Simple Circular-Flow Diagram,households

question 35

Multiple Choice

In the simple circular-flow diagram,households

• A)are the only decision makers.
• B)own the factors of production.
• C)are buyers of inputs.
• D)consume only some of the goods and services that firms produce.

Understand the multidimensional causes of poverty, including education, family background, and personal choices.

Analyze the effectiveness of the War on Poverty and other government initiatives aimed at reducing poverty.

Understand means-tested income transfers and their implications for poverty reduction strategies.

Understand concepts of marginal tax rates and their implications on earned income.

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Definitions:

Untreated Wastewater

Water that has been used in homes, industries, and businesses that has not undergone any cleaning or purification process.

Environmental Impact Statement

A document prepared to describe the effects for proposed activities on the environment.

Federal Permit

An authorization given by a federal agency allowing the permit holder to conduct certain activities that are regulated at the national level.

Hazardous Waste

Waste materials that are dangerous to human health or the environment due to their toxic, corrosive, or flammable characteristics.