Find expert advice and community support for all your questions on IDNLearn.com. Discover detailed and accurate answers to your questions from our knowledgeable and dedicated community members.

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 :

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:

https://brainly.com/question/15042896