In a simple circular flow model,
a. households are suppliers of resources
b. households are demanders of final products.
c. firms are demanders of resources.
d. all of the above are true.
d
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If Australia has more land per worker, and Belgium has more capital per worker,then if trade began between these two countries
A) the real income of landowners in Belgium would decline. B) the real income of capital owners in Australia would increase. C) the real income of labor in Australia would decline. D) the real income of labor in Belgium would decline. E) the real income of labor in both countries would decline.
Along the per worker production function, as the capital-labor ratio ________, increases in output per worker become progressively ________
A) increases; larger B) increases; smaller C) decreases; larger D) decreases; smaller
a nation is going to achieve and sustain a high rate of economic growth, it must
What will be an ideal response?
What occurred during the Free Banking Era?
a. Currency varied widely from state to state. b. Repaying of loans was not closely monitored. c. The Second Bank of the United States was established. d. The dollar bill was introduced.