In the circular-flow diagram, which of the following items represents a payment of a factor of production?
A: Interest
B: Spending by households on service
C: Spending by households on goods
D: capital
A: Interest
B: Spending by households on service
C: Spending by households on goods
D: capital
举一反三
- In the simple circular-flow diagram, A: households own the factors of production. B: households buy all the goods and services that firms produce. C: land, labor, and capital flow from households to firms. D: All of the above are correct.
- The circular-flow diagram illustrates that, in markets for the factors of production, ( ) A: households are sellers, and firms are buyers. B: households are buyers, and firms are sellers. C: households and firms are both buyers. D: households and firms are both sellers.
- 18) According to the circular flow model A: . in the market for goods and services, households are buyers and firms are sellers. B: . the market for goods and services, households are sellers and firms are buyers. C: . in the market for factors of production, households are buyers and firms are sellers. D: . firms are the owners of the factors of production.
- In the simple circular-flow diagram, the participants in the economy are A: firms and government. B: households and firms. C: households and government. D: households, firms, and government.
- 2. 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.