Because of the circular flows of expenditure and income in the economy, total ________ equals total ________ equals total ________
A) expenditure; investment; income
B) expenditure; income; value of production
C) consumption; expenditure; value of production
D) investment; income; consumption
E) consumption; investment; expenditure
B
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Use the following table for a certain product's market in Marketopia to answer the next question.Quantity Demanded DomesticallyPriceQuantity Supplied Domestically1,400$102,2001,60092,0001,80081,8002,00071,6002,20061,4002,40051,200Assume the small-country model is applicable. If the world price of the product is $6 and an import quota of 400 units is imposed on the product, then the equilibrium price in Marketopia would be ________ and the total quantity available in Marketopia would be ________ units.
A. $7; 1,800 B. $6; 1,800 C. $6; 2,200 D. $7; 2,000
Explain the productivity curve and how the components interact
What will be an ideal response?
What are the primary causes of armed conflict in developing countries and what increases the risk factor for these conflicts?
What will be an ideal response?
Behavioral economics can best be described as
A) the study of situations in which people's choices do not appear to be economically rational. B) the study of human economic behavior. C) the basis for efficient markets. D) the study of how the economy affects human behavior.