One role of households in the circular flow model is that of ______.
a. distributing goods and services
b. purchasing goods and services
c. selling goods and services
d. producing goods and services
b. purchasing goods and services
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Which of the following are reasons why U.S. residents supply dollars to the foreign exchange market?
i. to buy U.S. exports ii. to buy foreign real estate iii. to buy foreign bonds A) i only B) ii only C) iii only D) i and iii E) ii and iii
The health maintenance organization that contracts with individual physicians or group practices to provide care for a specified group of enrollees is called
a. a group-model HMO. b. a staff-model HMO. c. a network-model HMO. d. an IPA. e. a direct-contract HMO.
A decrease in demand will cause a decrease in price, which will cause a decrease in supply
a. True b. False Indicate whether the statement is true or false
If supply is perfectly elastic, the price elasticity of supply is equal to:
A. 1. B. 0. C. infinity. D. a positive number between 0 and infinity.