41. Which of the following correctly matches resources and their payments in the Circular Flow Model? I. Labor = wages, Land interest II. Entrepreneurship = profits, Labor= wages III. Capital rent, Land = profits IV. Investment - capital gains, Government taxes V. Labor = wages, Land rent Only statement I is correct. OOnly statements II and III are correct. OOnly statements III and IV are correct. COnly statements II and V are correct. Only statement IV is correct.
41. Which of the following correctly matches resources and their payments in the Circular Flow Model? I. Labor = wages, Land interest II. Entrepreneurship = profits, Labor= wages III. Capital rent, Land = profits IV. Investment - capital gains, Government taxes V. Labor = wages, Land rent Only statement I is correct. OOnly statements II and III are correct. OOnly statements III and IV are correct. COnly statements II and V are correct. Only statement IV is correct.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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pls solve this ques within 15-20 minutes with a complete explanation I'll give you multiple votes.
Transcribed Image Text:41. Which of the following correctly matches resources and their payments in the Circular Flow
Model?
I. Labor = wages, Land = interest
!3!
II. Entrepreneurship profits, Labor = wages
%3D
III. Capital = rent, Land profits
!!
%3!
IV. Investment= capital gains, Government taxes
V. Labor = wages, Land rent
%3D
COnly statement I is correct.
Only statements II and III are correct.
OOnly statements III and IV are correct.
COnly statements II and V are correct.
OOnly statement IV is correct.
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