In the circular flow model, the factors of production flow in the
A) opposite direction as does the goods market.
B) opposite direction as does the government.
C) same direction as do the rents, wages, interest, and profits.
D) opposite direction as do the rents, wages, interest, and profits.
E) same direction as does the goods market.
D
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In Keynes's liquidity preference framework
A) the demand for bonds must equal the supply of money. B) the demand for money must equal the supply of bonds. C) an excess demand of bonds implies an excess demand for money. D) an excess supply of bonds implies an excess demand for money.
If external benefits are taken into account in the market
A) the demand curve would shift to the left. B) the supply curve would shift to the left. C) the demand curve would shift to the right. D) the supply curve would become vertical.
If a perfect competitor is just breaking even it most likely is operating in _______________.
Fill in the blank(s) with the appropriate word(s).
Utility is:
A. a quantitative measure of consumers' preferences. B. an objective measure of a person's happiness. C. a meaningful number measuring a consumer's precise level of satisfaction. D. as difficult to measure as an individual's income level.