In the circular economic flow diagram, households:
A. make consumption expenditures and pay for land, labor, and capital.
B. receive money income and supply resources.
C. make consumption expenditures and receive goods and services.
D. buy resources and receive goods and services.
Answer: B
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Stagflation occurs when inflation ________ and GDP ________
A) rises; falls B) falls; rises C) falls; falls D) rises; rises
A paper mill discovers that burning old tires is a cheaper way to get power rather than using coal, and they adopt the new technology. Which of the following will likely happen in the market for paper?
A. The demand for paper will increase. B. The supply of paper will increase. C. The supplyfor paper will remain constant. D. The supply for paper will decrease.
Moving from one curve to another in an indifference map always increases utility
Indicate whether the statement is true or false
Antitrust cases against ________ resulted in the firm(s) being found not guilty of unreasonable conduct under the Sherman Act.
A. International Harvester B. Eastman Kodak C. United States Steel D. All of the above are correct.