The two sectors of the economy in the simple circular flow model are
A. households and businesses.
B. foreign markets and domestic markets.
C. the private sector and the public sector.
D. the employed and the unemployed.
Answer: A
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A decrease in growth rates will cause:
What will happen to the equilibrium price and equilibrium quantity of ice cream cones when consumers' incomes decrease?
A) If ice cream cones are a normal good, then the equilibrium price and quantity of ice cream cones will decrease. B) If ice cream cones are a normal good, then the equilibrium price and equilibrium quantity of ice cream cones will increase. C) If ice cream cones are an inferior good, then the equilibrium price for an ice cream cone will increase and the equilibrium quantity of ice cream cones will decrease. D) If ice cream cones are an inferior good, then the equilibrium price and quantity of ice cream cones will decrease.
Economists and accountants usually disagree on the inclusion of implicit costs into the cost analysis of a firm
a. True b. False Indicate whether the statement is true or false
Explain why shutting down and going out-of-business are different concepts
What will be an ideal response?