In a Simple Circular-Flow Diagram

question 9

Multiple Choice

In a simple circular-flow diagram,

• A)households spend all of their income.
• B)all goods and services are bought by households.
• C)expenditures flow through the markets for goods and services,while income flows through the markets for the factors of production.
• D)All of the above are correct.

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Definitions:

Upper South

A region in the southeastern United States, traditionally including states like Virginia and Kentucky, known for a history deeply intertwined with slavery and the Civil War.

Liberty Party

A minor political party in the United States in the 1840s, which was an early advocate for the abolition of slavery.

Political Movement

defines a collective attempt by a group of people to achieve political goals or to push for certain social or political changes, often through activism or campaigning.