In the circular flow model, a. Households trade their income for goods and services in output markets.
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In the circular flow model,
a. Households trade their income for goods and services in output markets.
b. Households trade their income for goods and services in input markets.
c. Businesses trade their goods and services for money in input markets.
d. Governments trade imports for exports with the foreign sector.
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Related Book For
Introduction To Economics Social Issues And Economic Thinking
ISBN: 9780470574782
1st Edition
Authors: Wendy A. Stock
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