Question : 11) The circular flow model shows that goods and services : 1226327

 

 

11) The circular flow model shows that goods and services flow from

A) businesses to households.

B) households to business.

C) the factor market to businesses.

D) the goods market to businesses.

E) the factor markets to the goods markets.

 

12) As the circular flow model points out, a choice that households make is how

A) many resources a firm will hire.

B) many goods and services are produced.

C) many goods and services are purchased.

D) much labor is hired.

E) much the government will collect in taxes and how much the government will spend on transfer payments.

 

13) 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

 

14) In the circular flow model, the factor markets are the markets in which

A) consumption goods and services are bought and sold.

B) government goods and services are provided.

C) land, labor, capital, and entrepreneurship are bought and sold.

D) investment goods and services are bought and sold.

E) governments impose all their taxes.

15) A money flow in the circular flow diagram is

i)the government’s collection of taxes

ii)Chevrolet’s production of SUVs

iii)Nike’s payment of wages to its workers

A) i and iii

B) i, ii and iii

C) i only

D) ii only

E) ii and iii

 

16) A real flow in the circular flow diagram is

i)a firm’s payments of wages to its workers.

ii)a household’s purchase of a new car.

iii)a farmer’s use of land to grow corn.

A) ii and iii

B) i only

C) i and iii

D) ii only

E) i, ii and iii

 

17) An example of a real flow in the circular flow diagram is

A) a household’s supply of work effort at its new business.

B) the government’s payment of wages to a soldier.

C) Nike’s payment of wages to workers in China.

D) your county’s collection of property taxes.

E) a teacher’s salary at the local high school.

18) An example of a money flow in the circular flow diagram is

A) a student’s payment of tuition to her university.

B) the government’s operation of the court system.

C) the government’s financing of the national debt.

D) a firm’s production of goods to sell to a foreign country.

E) a farmer’s use of land to grow wheat.

 

19) As the circular flow model shows, the factors of production flow from

A) firms to households through the factor market.

B) households to firms through the factor market.

C) firms to households through the goods market.

D) households to firms through the goods market.

E) the goods market through firms to the factor markets.

 

20) In the circular flow model, the factors of production flow in the

A) same direction as do the rents, wages, interest, and profits.

B) opposite direction as do the rents, wages, interest, and profits.

C) opposite direction as does the government.

D) same direction as does the goods market.

E) opposite direction as does the goods market.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more