Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which one of the following statements is false? A. There are four broad groups of decision-making units in the economy: households, firms, government and the

image text in transcribed
Which one of the following statements is false? A. There are four broad groups of decision-making units in the economy: households, firms, government and the foreign sector. B. Imports are an important injection into the circular flow of income and spending in the economy. C. Taxes are a leakage or withdrawal from the flow of income and spending in the economy. D. Spending by households on consumer goods and services is called consumption spending. E. Spending on capital goods is called investment spending and is an important addition to, or injection into, the circular flow of income and spending in the domestic economy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics and Business Strategy

Authors: Michael R. baye

7th Edition

978-0073375960, 71267441, 73375969, 978-0071267441

More Books

Students also viewed these Economics questions