QUESTION 3 Use the figure below to answer the question that follows. Which one of the following statements is CORRECT? a) Flows (2) and (3) represent income. b) Flows (2) and (4) represent spending. c) Flows (1) and (2) represent spending. d) Flows (1) and (3) represent spending.
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The diagram typically includes firms, households, the factor market, and the goods market. Show more…
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