Author Question: Which of the following are represented by the same flow in the circular flow model? A) the flow ... (Read 115 times)

fbq8i · **on:** Jun 29, 2018

Which of the following are represented by the same flow in the circular flow model?

A) the flow of costs and the flow of revenue
B) the flow of goods and the flow of factors of production
C) the flow of income earned from the sale of resources and the flow of expenditures on goods and services
D) the flow of income received by households and the flow of tax revenues paid by firms

Question 2

If the quantity of hearing aids demanded is represented by the equation QD = 40 - P then the corresponding price of hearing aids is represented by the equation

A) P = 0.25 - 4QD. B) P = QD + 40. C) P = 0.5QD + 20. D) P = 40 - QD.