Resources that flow through the circular flow model include all of the following except:
A. land.
B. labor.
C. capital.
D. final goods.
Answer: D
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A bowed out PPF reflects which of the following ideas?
i. Increasing opportunity cost ii. Resources are not equally productive in all activities. iii. Prices of goods increase over time. A) i only B) i and ii C) i and iii D) ii and iii E) i, ii, and iii
A supply curve is a:
A. graph that visually displays the supply schedule. B. graph depicting various price-quantity combinations of multiple goods. C. graph that shows the quantities of a particular good or service that producers will sell at one price. D. table that displays various price-quantity combinations of a good or service.
A price discriminating monopolist will
A) charge a lower price to those consumers who have more elastic demand. B) charge a higher price for a good with more market demand. C) charge more to those consumers who have more substitute goods. D) charge the same price to all consumers.
Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $35 million. Currency held by the nonbank public is
A. $12 million. B. $15 million. C. $20 million. D. $3 million.