Based on the circular flow model, money flows from households to businesses in:
a. factor markets.
b. product markets.
c. neither factor nor product markets.
d. both factor and product markets.
b
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What is the main difference between the type of money that was used before the invention of the printing press and today?
What will be an ideal response?
Refer to Table 10-2. If Keira maximizes her utility, how many units of each good should she buy?
A) 6 cups of soup and 2 sandwiches B) 1 cup of soup and 5 sandwiches C) 4 cups of soup and 3.5 sandwiches D) 3 cups of soup and 4 sandwiches
This profit-maximizing firm charges a price of
A. OV.
B. OW.
C. OX.
D. Z.
When there are large numbers of buyers and sellers, then
A) the products sold must look identical. B) firms will move labor and capital in pursuit of profit-making opportunities to whatever business venture gives them the highest return on their investment. C) no one buyer or seller has any influence on price. D) consumers are able to find out about lower prices charged by other firms.