The simple circular flow diagram shows that economic aggregates can be calculate

Question

The simple circular flow diagram shows that economic aggregates can be calculated either by the _______ flows in the product market or by the _______ flowing to households in the resource market.
A. Spending; Output B. Income; Spending C. Output; Spending D. Spending; Income The simple circular flow diagram shows that economic aggregates can be calculated either by the _______ flows in the product market or by the _______ flowing to households in the resource market.
A. Spending; Output B. Income; Spending C. Output; Spending D. Spending; Income
A. Spending; Output B. Income; Spending C. Output; Spending D. Spending; Income

Explanation / Answer

Answer. (D) Spending, Income

Because, we spend on goods and services in product market and households render their services such as labor services in the resource market for which in return they are paid wages, that is their income comes from resource market.

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