In the circular flow diagram, saving
A. is a leakage and investment is an injection.
B. and investment are both injections.
C. is an injection and investment is a leakage.
D. and investment are both leakages.
Answer: A
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An example of a stock would be
A) real GDP. B) savings. C) investment. D) the amount of money in circulation.
An inflationary gap will occur when
a. real GDP exceeds nominal GDP. b. nominal GDP exceeds real GDP. c. real GDP exceeds potential GDP. d. potential GDP exceeds real GDP
The situation that exists because our unlimited wants exceed our limited resources is called ______.
a. a correlation b. an input c. a shortage d. scarcity
When deciding what to use as money, one characteristic to look for is its:
A. exchange value. B. convenience. C. shape. D. intrinsic value.