The two flows, or things being exchanged, in the circular flow model are:
A. inputs and outputs.
B. imports and exports.
C. inputs/outputs and money.
D. land and labor.
C. inputs/outputs and money.
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The best threat is on
a. You always have to carry out b. You must always carry out c. You sometimes have to carry out d. You never have to carry out
A difference in wage rates that results from a difference in working conditions
a. is known as a compensating wage differential b. is known as an equalizing differential c. reflects a difference in marginal productivity d. reflects job-market discrimination e. will be eliminated if all labor markets are perfectly competitive
The federal funds rate is
a. determined in a market but targeted by the Fed. b. chosen by the Fed and enforced on the banks. c. chosen by Congress and enforced on the Fed. d. chosen by Congress and enforced on the banks. e. determined in the market and beyond the control of the Fed.
How might command-and-control regulations be described?
a. Highly incentivized b. Easy to implement c. Inflexible d. Flexible