5 Questions
Which economic concept is represented by the circular flow model?
Circular flow of income
What is the basis of macroeconomics and national accounts?
Circular flow analysis
Who developed and visualized the concept of the circular flow in the Tableau économique?
François Quesnay
Which economist's work included reproduction schemes in the second volume of Capital: Critique of Political Economy?
Karl Marx
Who further developed the concept of the circular flow for the United Nations and the Organisation for Economic Co-operation and Development?
Richard Stone
Test your knowledge of the circular flow of income and its importance in macroeconomics with this quiz. Explore the flows of money, goods, and services between economic agents in a closed circuit and understand the concept's role in national accounts.
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