Maximizing surplus in a market depends not only on the amount bought and sold, but also on:
A. what those consumers do with it.
B. how productive the sellers are.
C. who buys and sells it.
D. None of these statements is true.
C. who buys and sells it.
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________ refers to a decrease in the willingness of banks to lend, while an impairment of the ability of nonfinancial firms to borrow is a consequence of ________
A) Adverse selection; moral hazard B) Deleveraging; debt deflation C) Fire sales; a bank panic D) The shadow banking system; agency theory
Explain the difference between human needs and wants
What will be an ideal response?
For an open economy, the equation Y = C + I + G + NX is an identity. If we define national saving, S, as the total income in the economy that is left after paying for consumption and government purchases, then for an open economy, it is true that
a. S = I. b. S = 0. c. I = S + NX. d. S = I + NX.
In the circular flow diagram, consumer products flow ______.
a. the same way as dollars
b. clockwise
c. counter clockwise
d. from the innermost circle