In the circular flow model, the source of the factors of production used to create goods and services is the

a. product market
b. resource market
c. firms
d. households
e. exchange market

D

Economics

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From a normative perspective, the role of the budgeting process is to allocate scarce resources to their most highly valued uses

a. True b. False

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For a tangible index of well-being, we can regard income as the only barometer necessary

Indicate whether the statement is true or false

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