Which of the following is consistent with the circular flow of income?I.Goods and services flow in one direction.II.Payments and incomes flow in one direction.III.Sellers receive less than what buyers spend.
A. I only
B. II only
C. III only
D. Both I and II
Answer: D
Economics
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Explain which of the following items are not consumption goods and services:
What will be an ideal response?
Economics
Suppose the Fed announces an increase in the proportion of deposits that a bank is legally required to hold in reserve or on deposit with the Fed. This will: a. reduce the money supply in the economy
b. increase the amount of excess reserves of commercial banks. c. decrease the reserve requirements of commercial banks. d. result in an increase in the money supply in an economy.
Economics
Spending constants & lowering taxes
What will be an ideal response?
Economics
Absolute advantage is a comparison among producers based on productivity.
Answer the following statement true (T) or false (F)
Economics