INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 110

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-In terms of overall household liabilities,[auto | home] loans comprise the largest share.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Mikhail Gorbachev

The last leader of the Soviet Union, known for his policies of glasnost (openness) and perestroika (restructuring).

Private Ownership

The legal right of individuals or entities to own property, assets, or businesses without governmental intervention.

Means Of Production

The physical, non-human inputs used for the production of economic value, such as factories, machines, and tools.

Circular Flow Model

Goods and services flow from business firms to households in exchange for consumer expenditures, while resources flow from households to business firms in exchange for resource payments.