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Multiple Choice Questions (MCQs)

1. Which of the following is a phase of the circular flow of income?
A. Generation Phase
B. Distribution Phase
C. Disposition Phase
D. All of these

2. Which of the following is not an example of a flow variable?

Sagot :

GinnyAnsweridn

Final answer:

The circular flow of income illustrates the flow of production, income, and expenditure between sectors in an economy.


Explanation:

The circular flow of income describes the continuous flow of production, income, and expenditure among the different sectors of an economy. It involves the five main sectors: households, firms, government, the financial sector, and the rest of the world. In this flow, GDP = income = production = spending according to the national income identity.


Learn more about Circular flow of income here:

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