In the expanded circular flow diagram, the government supplies
A) factors of production to the factor market. B) goods and services to households.
C) factors of production to firms. D) goods and services to the product market.
D
You might also like to view...
Each of the three major waves in 19th-century railroad construction ended due to:
a. major financial crises in the U.S. b. the involvement of the U.S. in a military conflict. c. labor unrest that led to work stoppages. d. shortage of iron.
A foreign exchange intervention that alters the domestic monetary base is:
A. impossible. B. not likely to change domestic interest rates. C. sterilized. D. unsterilized.
At an equilibrium level of output in a pure monopoly:
A. P > MC and P = minimum ATC. B. P > MC and P > minimum ATC. C. P = MC and P = minimum ATC. D. P = MC and P > minimum ATC.
A firm's total profit is equal to the marginal cost of production multiplied by the quantity produced.
a. true b. false