Author Question: Total output and total income in the circular flow model A) are measures of the economy's level ... (Read 121 times)

jc611 · **on:** Jun 29, 2018

Total output and total income in the circular flow model

A) are measures of the economy's level of savings.
B) include only intermediate goods.
C) are equal to each other.
D) are related because national income is less than national product.

Question 2

According to the circular flow diagram, the dollar value of a nation's output is equal to

A) profits.
B) total income.
C) net income minus taxes.
D) wages.