The circular flow model shows how ______ interact in markets
a. workers and firms
b. firms and households
c. firms and banks
d. banks and households
e. households and government
B
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Which of the following factors will NOT increase economic development?
A) establishing a system of property rights B) increasing the amount of protectionism C) increasing the amount of education in the population D) creative destruction where old jobs, companies and industries are destroyed
At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $50 to play, would an individual gain or lose from playing the game
a. Gain b. Lose c. Breakeven-neither gain nor lose d. None of the above
Currency devaluation _______import consumers because______
a. Helps; imports are more expensive b. Hurts; imports are more expensive c. Helps; imports are less expensive d. Hurts; imports are less expensive
Firms that can reduce pollution easily would be willing to sell their pollution permits
a. True b. False Indicate whether the statement is true or false