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A Circular-Flow Diagram Is a Visual Model of the Economy

question 167

True/False

A circular-flow diagram is a visual model of the economy.


Definitions:

Hard Enough

A phrase indicating a task or challenge that presents a sufficient level of difficulty.

Lazy

A lack of willingness to work or use energy, often characterized by inactivity and a tendency to avoid effort.

Closed System

A theoretical concept in various sciences referring to a system that does not interact with others systems or its environment, exchanging neither matter nor energy.

Open System

A social system in which status is based on achieved attributes.

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