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Author Question: The circular flow model shows that consumer goods and services produced by business firms are sold ... (Read 51 times)

jace

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  • Posts: 541
on: Jun 29, 2018
The circular flow model shows that consumer goods and services produced by business firms are sold in the
 
  A) goods market.
  B) factor market.
  C) labor market.
  D) financial market.

Question 2

GDP counts only final goods and services because this
 
  A) method avoids including any goods that are produced this year and sold next year.
  B) method avoids double counting of goods going through several stages of production.
  C) amount can be more easily determined in the marketplace.
  D) method avoids understating the value of GDP produced during a given year.


iceage

  • Guest
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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