In the goods market:
A. businesses produce goods and services and sells them to households and government.
B. government produces goods and services and supplies them to households and businesses.
C. households supply factors of production to businesses and are paid by businesses for doing so.
D. households supply goods to businesses and are paid by businesses for doing so.
Answer: A
You might also like to view...
What is a marginal cost?
What will be an ideal response?
The income elasticity for most staple foods, such as wheat, is known to be between zero and one
a. As incomes rise over time, what will happen to the demand for wheat? b. What will happen to the quantity of wheat purchased by consumers? c. What will happen to the percentage of their budgets that consumers spend on wheat? d. All other things equal, are farmers likely to be relatively better off or relatively worse off in periods of rising incomes?
The long-run average cost of producing 12 units of output is $54; the long-run average cost of producing 13 units is $56. These numbers illustrate:
A. diseconomies of scale. B. economies of scope. C. economies of scale. D. diminishing marginal productivity.
What is the value of $F (the total new checkable deposits)?
A) $1,000 B) $4,000 C) $5,000 D) $6,000