Macroeconomics ECO 2113 Exam Questions With Correct Answers
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Course
Macroeconomics ECO 2113
Institution
Macroeconomics ECO 2113
Macroeconomics ECO 2113 Exam Questions
With Correct Answers
The addition of government to the circular-flow model illustrates that government:
purchases resources in the resource market.
provides services to businesses and households.
purchases goods in the product market.
does all of these. ...
welfare payments to low-income families. - answer✔corporate income tax payments.
Refer to the above diagram, in which solid arrows reflect real flows; broken arrows are monetary flows.
Flow (6) might represent:
the payment of payroll taxes by households.
corporate income tax payments.
the purchase of basketballs by the Ogallala school district.
the purchase of armored personnel vehicles by government. - answer✔the payment of payroll taxes by
households.
Refer to the above diagram, in which solid arrows reflect real flows; broken arrows are monetary flows.
Flow (8) might represent:
personal income taxes.
automobile purchases by the state of Maine.
the services of firefighters.
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