Which of the following statements about a simple circular flow model is false? Producers are buyers in the factor market and sellers in the product market. Households are buyers in the product market. Households are neither buyers nor sellers in the product market. Producers are buyers in the factor market.

Which of the following statements about a simple circular flow model is false? Producers are buyers in the factor market and sellers in the product market. Households are buyers in the product market. Households are neither buyers nor sellers in the product market. Producers are buyers in the factor market.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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