In the Circular Flow Model,which of the Following Owns the Factors

question 74

Multiple Choice

In the circular flow model,which of the following owns the factors of production?

• A) only federal, state, and local governments
• B) only households
• C) only firms
• D) both firms and households
• E) firms, households, and all levels of government

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Definitions:

Symbolic Images

Visual representations that stand for or suggest another thing by association, resemblance, or convention, often carrying particular meanings or messages.

Myths

Traditional stories, often concerning the early history of a people or explaining some natural or social phenomenon, and typically involving supernatural beings or events.

Folklorist

A scholar specializing in folklore, the study of traditional beliefs, customs, stories, songs, and practices of a culture or community.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, known for his theories of the collective unconscious and archetypes.