![]() ![]() How does a circular-flow diagram of the economy explain the connection between households and the rest of the world? households are linked to the rest of the world through their purchases of imports and transactions with foreigners in financial markets The government uses the _ to keep track of the flows of money between different sectors of the economy.Į) factor market a) national income and product accounts Markets in which labor and capital are bought and sold are called _ markets.Į) money b) factor A circular-flow diagram assumed the factors of productions are owned by:Į) households e) households In a circular-flow diagram,funds that flow between households and the government are:Į) taxes, transfers, and government spending c) taxes and transfers The bank, stock, and money markets are collectively known as the _ market.Į) factor d) financial What does the investment spending category of GDP measure? the investment spending category of GDP measures purchases of new capital by firms, changes to the stock of firm's inventories, and residential investment (the value of new hours constructed during the given time period). How does a circular-flow diagram of the economy explain the connect between households and government? households are linked to the government through their payment of taxes, their receipt of transfers, and their lending of funds to the government to finance government borrowing via the financial markets. delfation How does a circular-flow diagram of the economy explain the connection between households and firms? households are linked to firms through the sale of factors of production to firms, through purchases from firms of final goods and services, and through lending funds to firms in the financial markets. Gas prices haven't changed, food prices are way down, and services have gotten cheaper, too. Is this deflation, inflation, or ambiguous? ![]()
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