Resources that flow through the circular flow model include all of the following except:
a. land.
b. labor.
c. capital.
d. final goods.
d
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The figure above shows a labor market. If there is a monopsony in this labor market, employment is
A) 0 hours per week. B) 50 hours per week. C) 100 hours per week. D) 150 hours per week.
Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had fixed exchange rates, what effect would these flows have had on Venezuela's reserves account and value of the Bolivar (the Venezuelan currency)?
a. Reserves account would rise and value of the Bolivar would not change. b. Reserves account would not change and value of the Bolivar would fall. c. Reserves account would fall and value of the Bolivar would not change. d. Reserves account would fall and value of the Bolivar would fall. e. Reserves account would fall and value of the Bolivar would rise.
Since the 1970s, the most common causes of recessions have been
A. problems in financial markets and negative demand shifts. B. negative supply shifts and inflation fighting. C. problems in financial markets and inflation fighting. D. negative supply shifts and negative demand shifts.
What does the slope of the production possibilities curve represent? Explain
What will be an ideal response?