In the Simple Circular Flow Model, Total Income in One

question 27

Multiple Choice

In the simple circular flow model, total income in one nation must equal

• A) the sum of wages, rents, interest and profits.
• B) the total monetary value of all final goods and services.
• C) the yearly amount earned by that nation's resources.
• D) All of the above are correct.

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Definitions:

Hypnosis

A trance-like state in which a person has heightened focus and concentration, often used for therapeutic purposes.

Craniotomy

A surgical operation where a bone flap is temporarily removed from the skull to access the brain.

Encephalotomy

A surgical procedure involving an incision into the brain.

Craniectomy

A surgical operation in which a portion of the skull is removed to relieve pressure on the brain.