Which of the following is true in the circular flow model of the economy? a. Households are demanders in the output market and demanders in the input market. b. Firms are demanders in the output market and demanders in the input market. c. Households are demanders in the output market and suppliers in the input market. d. Households are suppliers in the output market, and firms are suppliers in the input market.

Which of the following is true in the circular flow model of the economy? a. Households are demanders in the output market and demanders in the input market. b. Firms are demanders in the output market and demanders in the input market. c. Households are demanders in the output market and suppliers in the input market. d. Households are suppliers in the output market, and firms are suppliers in the input market.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 2CQQ

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