Transfer payments, such as unemployment insurance and welfare, are included in the circular flow as part of
a. government purchases
b. household saving
c. net taxes
d. planned investment spending
e. household consumption
C
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The relationship between education and productivity is easily quantified because causation clearly flows from education to increased productivity
a. True b. False
Explain how long-run economic profits are linked to entry in monopolistic competition and perfect competition
What will be an ideal response?
In 2003-2004, over one-third of Black and Hispanic students attended schools that were 90% or more minority; over two-thirds attended schools that were 50% or more minority
Indicate whether the statement is true or false
Which of the following is the prime objective of an industrial policy for any country?
a. To secure a leading global role for selected domestic industries b. To promote and encourage the import of goods and services c. To secure the interests of migrant workers d. To encourage specialization of labor e. To ensure a high level of competition for domestic firms