Which of the Following Statements Concerning the Circular Flow Is

question 56

Multiple Choice

Which of the following statements concerning the circular flow is FALSE?

• A)The circular flow of economic activity shows how the overall economy operates
• B)The circular flow emphasizes the independence of economic variables
• C)There are two circular flows involved in the economy
• D)The circular flow shows that real income is determined by physical goods and services produced in the economy
• E)None of the above

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Definitions:

Coin Flip

A basic randomness experiment or procedure that involves tossing a coin to choose between two possibilities, heads or tails, used for making decisions or determining probability.

Federal Holidays

Days designated by the federal government of a country as holidays, during which non-essential federal government offices are closed.

Sample Space

The set of all possible outcomes or results that can occur from a specific action or a random experiment.

Sample Space

The set of all possible outcomes of a probabilistic experiment.