In the extended version of the circular flow model,
a. resources flow from the government to firms
b. taxes flow from foreign economies to the government
c. goods and services flow from households to foreign economies
d. resources flow from households to firms
e. resource payments flow from households to the government
D
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If two or more markets are closely related,
A) a partial equilibrium analysis will tend to overstate the price impact of a supply shock. B) a partial equilibrium analysis will tend to accurately predict the price impact of a supply shock. C) a partial equilibrium analysis will tend to understate the price impact of a supply shock. D) they should be analyzed concurrently but using partial equilibrium analysis alone.
Which of the following countries is lacking an abundance of natural resources?
a. Australia b. Japan c. Brazil d. United States
In the ultimatum game, what offer do proposers and responders most often settle on?
a. 99/1 b. 70/30 c. 50/50 d. 100/0
Which of these is an example of how the U.S. Constitution protects the free enterprise system?
A) Congress is given the power to borrow money. B) Congress is given the authority to collect taxes. C) Congress is given the authority to raise and support armies. D) Congress is given the authority to grant patents and copyrights.