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Economic Models Quiz

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What are the three components of a simple economic model?

Households, firms

What are the components of a complex economic model?

Households, firms, saving, tax, investment, spending

What sectors are included in the five-sector circular flow model?

Consumers, businesses, financial institutions, government, overseas sector

What is the purpose of the five-sector circular flow model?

<p>To assess changes in the economy</p> Signup and view all the answers

What is the role of injections and leakages in the economy?

<p>They help economists analyze the flow of money in and out of the economy</p> Signup and view all the answers

Economic Models Quiz

Choose a study mode

Podcast

Questions and Answers

What are the three components of a simple economic model?

What are the components of a complex economic model?

What sectors are included in the five-sector circular flow model?

What is the purpose of the five-sector circular flow model?

What is the role of injections and leakages in the economy?

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