Refer to the diagram below. If box E represents government, box C businesses, and box A households, then flows (11) and (12) would represent:
A. Goods and services
B. Government expenditures
C. Resources
D. Net taxes
D. Net taxes
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The potential for profit-increasing false advertising is greatest for which of the following goods?
A) disposable diapers B) a refrigerator C) laundry detergent D) spray window cleaner
In terms of total sales, the dominant form of business firm in the U.S. economy is the
a. corporation b. sole proprietorship c. partnership d. nonprofit organization e. limited partnership corporation
In long-run equilibrium, the perfectly competitive firm sets its price equal to which of the following?
a. Short-run average total cost. b. Short-run marginal cost. c. Long-run average cost. d. All of these.
If we observe both an increase in the price of flour and in the number of units sold, this could be explained by: a. an increase in the demand for flour. b. a decrease in the demand for flour. c. a decrease in the supply of flour
d. an increase in the supply of flour.