The circular flow model assumes:
a. businesses and households own the factors of production.
b. businesses own the factors of production.
c. government owns the factors of production.
d. households own the factors of production.
e. firms, households, and the government own the factors of production.
d
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The total amount of money the government owes to its creditors is known as ________
Fill in the blank(s) with correct word
The term "sovereign debt crisis" applies when ________
A) private businesses cannot borrow money because the government is borrowing so much B) nations compete fiercely with each other to increase their borrowing C) a government finds that the cost of borrowing is higher than it had anticipated D) the debt of a particular government quickly loses value
Generally, expenses on toothpaste are a small part of a consumer's budget, so the demand for toothpaste is more likely to be
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.
Collusion is designed to limit competition in a market
Indicate whether the statement is true or false