In the circular flow diagram, when Brian provides labor through the markets for factors of production to ABC Company, the flow of money he receives in exchange is called
income.
Economics
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If the slope of a demand curve is infinite, then the price elasticity of demand is:
A. one. B. zero. C. infinite. D. equal to the price of the good.
Economics
The Social Security Trust fund actually has no money in it and is filled with IOUs. Does this information impact your thinking regarding Social Security?
What will be an ideal response?
Economics
Governments choose to pursue industrial policy to:
A. raise tax revenue. B. spur economic growth. C. create publicly owned companies. D. regulate the growth of certain industries.
Economics
Explain the following: Risk results from the fact that more outcomes could happen than will happen.
What will be an ideal response?
Economics