The simple circular flow of income shows that the total income in an economy equals
A) all taxes paid by households.
B) total expenditures.
C) the total amount of money supplied by the government.
D) total profits earned by firms.
B
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Explain how each of the following limits the economic growth of developing nations:
(a) Insufficient capital formation (b) A shortage of human resources (c) A lack of social overhead capital
The main objective of financial liberalization is ________
A) to encourage financial innovation B) to improve the allocation of financial capital C) to discourage volatility in financial markets D) to reduce the likelihood of a credit boom
In the long run, a typical perfectly competitive firm will produce at the minimum point of its long-run average total cost curve and the minimum point of its short-run average total cost curve
a. True b. False
Affirmative action laws require employers to search for qualified minority applicants but not to necessarily give them jobs.
Answer the following statement true (T) or false (F)