In the Simple Circular Flow Model

question 111

Multiple Choice

In the simple circular flow model,

• A)households are buyers of resources.
• B)businesses are sellers of final products.
• C)households are sellers of final products.
• D)there are real flows of goods, services, and resources, but not money flows.

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Definitions:

Successive Cohorts

Groups of subjects sequentially assessed over time, often used in longitudinal studies to observe changes within a population.

Quasi-Experimental Design

A research design that resembles an experimental design but lacks random assignment of subjects to treatment and control groups.

Error Variance

Pertains to the variation within experimental data that cannot be attributed to the variables being studied, essentially representing noise in the data.

Quasi-Experimental Designs

Research designs that seek to establish causal relationships between variables but lack the full control or random assignment typical of true experiments.