Refer to Figure 2-17. One segment of the circular flow diagram in the Figure shows the flow of funds from market F to economic agents G. The funds represent spending on goods and services. What is market F and who are economic agents G?
A) F = factor markets; G = households B) F = factor markets; G = firms
C) F = product markets; G = firms D) F = product markets; G = households
Question 2
Refer to Figure 9-2. Without the tariff in place, the United States consumes
A) 9 million pounds of rice. B) 15 million pounds of rice.
C) 31 million pounds of rice. D) 42 million pounds of rice.
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