Injections to the circular flow model include saving, taxes, exports, and investment.
Answer the following statement true (T) or false (F)
False
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Which of the following best explains why marginal revenue for a monopolist is less than the sales price? a. To sell more units, the monopolist must reduce price on all units sold
b. As the monopolist expands output, the average total cost of production declines. c. The monopolist charges each consumer the highest possible price. d. When a firm has a monopoly, consumers have no choice other than to pay the price set by the monopolist.
Who developed the school of thought known as utilitarianism?
a. Jeremy Bentham b. Dean Karlan c. Adam Smith d. Karl Marx
Which of the following is NOT an example of traditional authority?
a. supervisor b. vice president c. bishop d. secretary
Financial capital flows could include
A) real estate purchases. B) construction of factories. C) the purchase of the physical assets and operations of a multinational corporation by another. D) currency market transactions.