Based on the circular flow diagram, what two entities pay wages to households?
a. rest of the world and financial markets
b. government and financial markets
c. firms and government
d. firms and financial markets
c. firms and government
You might also like to view...
In a competitive market when there is no deadweight loss
A) consumer surplus is minimized. B) producer surplus is minimized. C) consumer surplus plus producer surplus is maximized. D) consumer surplus plus producer surplus is minimized.
Which of the following is least likely to affect the net gain to migration?
A. an increase in migration costs B. changing one's preferences for living in different places C. an improvement in economic opportunities in the source state D. an improvement in economic opportunities in the destination state E. a general increase in the national price level
The marginal propensity to save is defined as
What will be an ideal response?
If foreigners held U.S. assets worth $200 billion during a certain year and the value of the current account for that year was -$189 billion, the total volume of foreign assets held domestically was worth ________
A) $101 billion B) $389 billion C) $421 billion D) $211 billion