In the above figure, flow B represents households' ________
A) income
B) consumption expenditures
C) saving
D) investment
B
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The "paired observation" of (14, 6 ) means
A) x = 14, y = 6. B) x = 6, y = 14. C) x = any multiple of 14, y = any multiple of 6. D) the origin is at 14 and 6.
The disadvantages of proprietorships include
A) limited liability for the owner. B) double taxation of business profits. C) the fact that the proprietorship can continue even after the owner dies. D) the fact that the proprietor is solely responsible for all the firm's debts.
A product that has an elastic demand curve has all of the following characteristics EXCEPT
A) it has many substitutes. B) a consumer can wait to buy the product. C) it has few or no substitutes. D) it is a large part of a consumer's income.
A sustained decrease in the average of all prices of goods and services in the economy is known as
A. deflation. B. inflation. C. disinflation. D. hyperinflation.