In the circular flow model, households earn their incomes in the
A. product markets.
B. resource markets.
C. capitalist markets.
D. money markets.
Answer: B
Economics
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Total income in an economy is equal to
A) the sum of wages, interest, rent, and profit. B) firm revenues. C) GDP minus net exports. D) income minus taxes.
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Why is judging trends in economic indicators important to managers?
What will be an ideal response?
Economics
In recent decades, the union-nonunion hourly wage differential has
A) increased substantially. B) increased slightly. C) stayed the same. D) fallen significantly.
Economics
Low cost strategies are usually found in industries where
a. Products are not particularly differentiated b. Price competition tends to be fierce c. Both a and b d. None of the above
Economics