In the circular flow model, which of the following owns the factors of production?

A) only federal, state, and local governments
B) only households
C) only firms
D) both firms and households
E) firms, households, and all levels of government

B

Economics

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If exports and imports both rose, but exports rose more than imports, a. AD would decrease

b. AD would increase. c. AD would be unaffected. d. AD could either increase or decrease.

Economics

In the long run, foreign labor remains cheap when and if

a. it becomes highly efficient and competes successfully internationally. b. countries erect barriers to trade between poor countries. c. productivity increases more rapidly in poor countries than in rich countries. d. it remains inefficient compared to other countries' labor.

Economics