In the extended version of the circular flow model,
a. resources flow from the government to households
b. resources flow from firms to households
c. taxes flow from firms to the government
d. resource payments flow from households to firms
e. imports flow from firms to foreign economies
C
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Based on this figure, if the official value of krone is fixed at $0.09 per krone, then the Norwegian krone is ________ and the international reserves of Norway will ________ krone per period. 
A. overvalued; decrease by 5,500 B. undervalued; increase by 2,000 C. undervalued; increase by 5,500 D. overvalued; decrease by 2,000
Explain the time dimension as it relates to elasticity. Be sure to include in your answer the difference in elasticity between the short run and the long run
What will be an ideal response?
A health maintenance organization that contracts with individual physicians or group practices to provide care for a specified group of enrollees is called:
a. a network-model HMO. b. a group-model HMO. c. an IPA. d. a staff-model HMO. e. a direct-contract HMO.
The "true" costs of inflation to an economy include all of the following except:
A. shoe-leather costs. B. higher relative prices. C. unexpected redistribution of wealth. D. noise in the price system.