Figure 217 Alt Text for Figure 2

question 22

Multiple Choice

Figure 2.17 Alt text for Figure 2.17: In figure 2.17, a circular flow diagram.
Long description for Figure 2.17: 4 circles arranged in a circle, labelled as follows, clockwise from the top center: Economic Agents E, an unmarked circle, Market F, and Economic Agents G.The flow of funds goes from Economic Agents E to Market F.Another arrow shows the flow of spending on goods and services from Market F to Economic Agents G.
-Refer to Figure 2.17.One segment of the circular flow diagram in the figure shows the flow of funds from economic agents E to market F.Who are economic agents E and what is market F?

• A)E = households; F = product markets
• B)E = firms; F = product markets
• C)E = households; F = factor markets
• D)E = firms; F = factor markets

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Definitions:

Income Tax Payable

The amount of income tax a company or individual owes to the government but has not yet paid.