The face value of money or income is called its ________ value.
A. real
B. marginal
C. nominal
D. external
Answer: C
Economics
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In the circular-flow diagram,
a. firms own the factors of production. b. the factors of production are labor, land, and capital. c. the factors of production are also called "output.". d. All of the above are correct.
Economics
Opportunity cost is the expected value of the alternative not chosen.
a. true b. false
Economics
What is asymmetric information?
What will be an ideal response?
Economics
Refer to the information provided in Table 21.10 below to answer the question(s) that follow. Table 21.10
Refer to Table 21.10. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 1 is
A. $110. B. $130. C. $140. D. $160.
Economics