In the simple circular flow model, households and firms interact with each other in which two broad markets?
a. service and education
b. real estate and insurance
c. factor and product
d. stock and bond
c. factor and product
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During the month of May, 10 million workers moved from being classified as "unemployed" to being classified as "employed." As a result
A) the labor force participation rate rose. B) the unemployment rate rose. C) the unemployment rate fell. D) the labor force participation rate fell.
The Keynesian transmission mechanism could be blocked by either interest-insensitive investment or by the liquidity trap
Indicate whether the statement is true or false
Long-term solutions to communitywide poverty must involve:
A. increasing the value of the currency. B. ways to expand the range opportunities available to the population. C. ways to reduce taxes collected by local governments. D. All of these are true.
A patent or copyright is a barrier to entry based on
A) ownership of a key necessary raw material. B) large economies of scale as output increases. C) government action to protect a producer. D) widespread network externalities.