Figure 2-2 -Refer to Figure 2-2.If the Outer Loop of This Circular-Flow

question 256

Multiple Choice

Figure 2-2
-Refer to Figure 2-2.If the outer loop of this circular-flow diagram represents flows of dollars,then the inner loop includes

• A)flows of goods and services from households to firms.
• B)flows of inputs from households to firms.
• C)flows of rent payments paid to owners of land.
• D)flows of wages and salaries paid to workers.

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Definitions:

Common Law

A system of law based on precedent and customs, originating in England and used in some countries including the United States.

Culture

The set of important beliefs that members of an organization share.

Households

Units of domestic or residential groups, typically families, sharing living accommodations and expenses.

Managed Electronically

The use of digital technologies and systems to oversee and control processes, transactions, or operations efficiently.