Statement I

question 195

Multiple Choice

Statement I.The circular flow model traces the flow of money,resources,and goods and services through the economy.
Statement II.Most household income is spent on investment or capital goods.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Cognitive Development

The process by which a person's ability to think, reason, and problem solve grows and changes over time.

Abductive Reasoning

A form of logical inference that starts with an observation then seeks to find the simplest and most likely explanation.

Deductive Reasoning

Reasoning from a general statement, premise, or principle, through logical steps, to figure out (deduce) specifics. Also called top-down reasoning.

Digital Natives

Individuals who have been exposed to digital technology from a young age, often considered fluent in the use of computers, the internet, and digital devices.