In the circular flow diagram, households get their ability to pay for their consumption expenditures from the
What will be an ideal response?
incomes they earn for their resources.
You might also like to view...
Following the implementation of laws requiring automobiles to have seat belts, which of the following occurred?
a. An individual's probability of surviving an auto accident rose. b. There was an increase in pedestrian deaths. c. There was an increase in automobile accidents. d. All of the above are correct.
An increase in the equilibrium quantity of good B can be caused by
A. a technological improvement in the process of producing good B. B. an increase in the price of good B. C. a reduction in the number of producers of good B. D. an increase the price of inputs utilized in producing good B.
The effect of legislation establishing a minimum wage above the market clearing wage is
A) unemployment. B) a shortage of labor. C) higher wages for all workers. D) a shift of the demand for labor curve.
The argument that suggests that regulators balance the interests of firms, consumers, and legislators is called
A) the capture hypothesis. B) the creative response theory. C) the share-the-gains, share-the-pains theory. D) the theory of optimal regulation.