Taxes are injections into the circular flow of income and expenditure model
a. True
b. False
Indicate whether the statement is true or false
False
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Explain why national income and domestic product must be equal
According to public choice theory, which of the following groups will likely benefit the most from government income transfers under a system of representative democracy?
a. the poor b. consumers c. small businesses d. concentrated interest groups
A merger between the Ford Motor Company and General Motors would be an example of a
A) vertical merger. B) horizontal merger. C) conglomerate merger. D) trust.
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. In the long run, this monopolistic competitive firm should expect
A. firms to exit the industry and profits to increase. B. firms to enter the industry and profits to increase. C. nothing to change; it will continue to make a profit. D. firms to enter the industry until all economic profits are eliminated.