According to the circular flow diagram, in return for land, labor, capital and entrepreneurial ability, households receive _______________________________.
Fill in the blank(s) with the appropriate word(s).
wages, salaries, interest, and profits
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The t-statistic measures
A) the efficiency of the t-test relative to the standard z-test. B) the probability that the estimated coefficient is within the range of the standard error. C) whether the estimated coefficient is independent of the standard error. D) whether the estimated coefficient is large relative to the standard error.
Refer to the graph below for the United States economy. The Growth trend line for the United States is a real GDP growth rate of a little over
a. 1 percent.
b. 3 percent.
c. 5 percent.
d. 7 percent.
A negative externality
a. is an adverse impact on a bystander. b. causes the product in a market to be under-produced. c. is an adverse impact on market participants. d. is present in markets where the good or service does not have any impact on bystanders.
Why does a small difference in the economic growth rate lead to big differences over time?
What will be an ideal response?