The circular flow of income describes the
A) flow of income from domestic firms to the nonproduction sector and back again.
B) amount of money in the economy.
C) sum of all injections into the economy.
D) sum of all withdrawals from the economy.
A
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The debate over how the government should respond to deep economic downturns may be easier to overcome if we focus on infrastructure spending because:
A. we have resolve the debate over infrastructure spending before we do anything else. B. there's broad agreement that the government should increase infrastructure spending. C. insufficient infrastructure spending is the root cause of most economic downturns. D. there's broad agreement that the government should decrease infrastructure spending.
Gross private domestic investment is all purchases of newly produced business capital goods and buildings
A) minus the change in business inventories. B) plus the change in business inventories plus residential construction. C) plus fixed investment minus inventory investment. D) plus purchases of capital goods produced in previous years to replace any depreciated capital goods.
Under conditions of pure monopoly:
A. the firm is a price taker. B. there is no advertising. C. there are close substitutes. D. entry is blocked.
Evidence suggests that the 1996 Welfare reform laws increased work by welfare recipients through
A. increased use of work requirements and incentives. B. increased use of work requirements only. C. increased use of work incentives only. D. pure coincidence.