Which of the following best characterizes the circular flow of income?
1. Businesses buy resources from the government, and households buy goods and services from businesses.
2. Businesses buy resources from households, and households use their income from the sale of resources to buy goods and services from businesses.
3. The government purchases resources from businesses and households and then sells goods and services to businesses and households.
4. Households buy factors of production from businesses, and businesses buy goods and services from households.

John has served as the chief operating officer (coo) for business graphics, inc., a publicly owned firm, the past 5 years. which of the following statements about john is correct? both john and the ceo of business graphics must certify to the sec that the firm's financial statements are accurate. as the coo, john will be ranked higher than the ceo but still below the cfo. in john's postition as the coo, it is highly unlikely that he would also be the chairperson of the board of directors. as the coo, john would typically be involved with accounting, finance, and asset purchase decisions.