Because Every Transaction Has a Buyer and a Seller

question 226

Multiple Choice

Because every transaction has a buyer and a seller,

• A)GDP is more closely associated with an economy's income than it is with an economy's expenditure.
• B)every transaction contributes equally to an economy's income and to its expenditure.
• C)the number of firms must be equal to the number of households in a simple circular-flow diagram.
• D)firms' profits are necessarily zero in a simple circular-flow diagram.

Learn different animation triggers and their applications.

Understand the customization of visual elements, including text and shapes.

Become proficient in utilizing PowerPoint's review and edit features.

Master the use of connector tools and paragraph adjustments for better presentation layout.

---

Definitions:

Precipitation

Any form of water, liquid or solid (rain, sleet, snow, or hail), that falls from the atmosphere and reaches the ground.

Acre-Foot

An acre-foot is a unit of volume commonly used in the United States to measure large-scale water resources, such as in reservoirs and lakes, equating to the volume of water needed to cover one acre of land to a depth of one foot.

Football Field

A playing surface, typically measuring 100 yards (91.44 meters) long and 53.3 yards (48.77 meters) wide, used for American football games.

Gallons

A unit of fluid volume measurement used in the US and the British imperial system, equal to 3.785 liters in the US.