Macroeconomics

MCQ - 191-4201

Question:

Of the following choices, the most direct exchange in the circular flow model of a private closed economy is when

households provide goods to firms in exchange for wage payments.
households provide resources to firms in exchange for goods.
households provide revenues to firms in exchange for wage payments.
households provide resources to firms in exchange for goods.
firms supply resources to households in exchange for costs of production.

Correct Answer: D

Explanation:

Know the circular flow model.

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