The __________________ traces the flow of money, resources, and goods and services through the economy.

Fill in the blank(s) with the appropriate word(s).


circular flow model

Economics

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The significantly high rates of inflation in the 1970s occurred, in part,

A. because of increased petroleum prices. B. due to high unemployment. C. despite falling gasoline prices. D. due to restrictive monetary policies.

Economics

Economists generally agree that increases in the minimum wage increase employment

Indicate whether the statement is true or false

Economics

If your income goes down, you will probably purchase fewer goods and services.

a. true b. false

Economics

An increase in the market share of one oligopolist will not affect the market share of the other firms in the industry.

Answer the following statement true (T) or false (F)

Economics