Which of the following statements is FALSE? A) Total income is always
Which of the following statements is FALSE?
A) Total income is always greater than total output.
B) In the circular flow model, households sell factor services to businesses in return for factor payments.
C) Businesses sell goods and services to households who use their income to pay for them.
D) The value of total income is equal in value to total output because profit is a cost of production.
ANSWER
A
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.