According to the circular flow of income and output, which of the following is NOT TRUE?Question 6 options:Total income and total output must be equal.Goods and services flow in one direction and money payments flow in the other direction. In every economic transaction, the seller receives exactly the same amount that the buyer spends.Goods, services and money all flow in one direction since money pays for the goods and services.

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06-12-2022
Business

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According to the circular flow of income and output, which of the following is NOT TRUE?Question 6 options:Total income and total output must be equal.Goods and services flow in one direction and money payments flow in the other direction. In every economic transaction, the seller receives exactly the same amount that the buyer spends.Goods, services and money all flow in one direction since money pays for the goods and services.

Sagot :

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SonaDas SonaDas · Answer 1 · 2022-12-09T04:06:32-05:00

Goods, services and money all flow in one direction since money pays for the goods and services is not true according to the circular flow of income and output.

What are the four circular flows of income?

The circular flow model illustrates the continuous transfer of money from producers to households and back again. Money goes in an economy from producers to workers as wages, then back from workers to producers when they spend their money on goods and services.

Households, businesses, the government, and foreign sectors make up the cyclic flow of revenue in a four-sector economy. The interaction between many economic stakeholders is thus provided through the circular flow of income. o International trade plays a significant part in the four-sector model's open economy. o The capital market mobilizes savings and borrowing from companies, governments, and households.

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What are the four circular flows of income?

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