In the Circular-Flow Diagram,which of the Following Items Flows from Households

question 22

Multiple Choice

In the circular-flow diagram,which of the following items flows from households to firms through the markets for goods and services?

• A)goods and services
• B)dollars paid to land,labor,and capital
• C)dollars spent on goods and services
• D)wages,rent,and profit

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Definitions:

Job Responsibilities

The specific duties, tasks, and functions that an individual is expected to perform as part of their employment role.

Expansion of Job Duties

The broadening of tasks and responsibilities assigned to a position or employee over time.

Subcontracting

The process of assigning or outsourcing part of the obligations and tasks under a contract to another, outside party.

Management Rights Clause

A provision in a labor contract that specifies the rights and responsibilities of management, including decision-making on business operations.