In the circular flow model, firms sell the services of factors of production to households
Indicate whether the statement is true or false
FALSE
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In the basic closed-economy ISLM model, as the interest sensitivity of money demand increases, fiscal policy has ________ effect on output and monetary policy has ________ effect on output
A) less; less B) more; more C) more; less D) less; more
The age distribution within the population of a country can have a considerable impact on the economy and the _____________ of living.
a. standard b. duration c. cost d. modality
Which of the following words and phrases best captures the notion of equality?
a. minimum waste b. maximum benefit c. sameness d. efficiency
A competitive firm
a. and a monopolist are price takers. b. and a monopolist are price makers. c. is a price taker, whereas a monopolist is a price maker. d. is a price maker, whereas a monopolist is a price taker.