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Chapter 2 Thinking Like an Economist

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Question;91. In the circular-flow diagram;a.;factors;of production flow from government to firms.;b.;goods;and services flow from households to firms.;c.;income;paid to the factors of production flows from firms to households.;d.;spending;on goods and services flows from firms to households.;92. In the circular-flow diagram, which of the following items does not;flow from households to firms?;a.;revenue;b.;land;labor, and capital;c.;factors;of production;d.;profit;93. In the circular-flow diagram, which of the following items does not;flow from firms to households?;a.;goods;b.;services;c.;capital;d.;profit;94. In the circular-flow diagram, which of the following items flows;from households to firms through the markets for goods and services?;a.;goods;and services;b.;dollars;paid to land, labor, and capital;c.;dollars;spent on goods and services;d.;wages;rent, and profit;95. In the circular-flow diagram, which of the following items flows;from firms to households through the markets for goods and services?;a.;goods;and services;b.;dollars;paid to land, labor, and capital;c.;dollars;spent on goods and services;d.;wages;rent, and profit;96. In the circular-flow diagram, which of the following items flows;from firms to households through the markets for the factors of production?;a.;goods;and services;b.;land;labor, and capital;c.;dollars;spent on goods and services;d.;wages;rent, and profit;97. In the circular-flow diagram, which of the following items flows;from households to firms through the markets for the factors of production?;a.;goods;and services;b.;land;labor, and capital;c.;dollars;spent on goods and services;d.;wages;rent, and profit;98. In the circular-flow diagram, which of the following items;represents a payment for a factor of production?;a.;interest;b.;capital;c.;spending;by households on goods;d.;spending;by households on services;99. Among economic models, the circular-flow diagram is unusual in that;it;a.;drastically;simplifies the real world.;b.;features;more than one type of market.;c.;features;flows of dollars.;d.;does not;involve mathematics.

 

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