The circular flow diagram shows the flow of money and goods and services between households, firms, government, and foreign countries
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is true regarding a demand curve?
i. The demand curve is also the marginal benefit curve. ii. The demand curve shows the dollars' worth of other goods that people are willing to forgo to consume another unit of the good. iii. The demand curve shows the maximum price that people are willing to pay for another unit of a good. A) i and ii B) i and iii C) ii and iii D) i, ii, and iii E) i only
Either an increase in wealth or an increase in population would increase consumption and aggregate demand, other things equal
a. True b. False Indicate whether the statement is true or false
If Thailand is more efficient at producing fax machines and telephone answering machines than Malaysia, then Thailand enjoys a(n) _____ advantage over Malaysia in the production of these products.
Fill in the blank(s) with the appropriate word(s).
Which of the following statements is true?
A) Corporations can issue stocks and bonds, while proprietorships cannot. B) Proprietorships have limited liability while corporations have unlimited liability. C) Corporations have one owner, while proprietorships have many owners. D) Corporations face fewer taxes than do proprietorships.