According to the circular flow, the dollar value of a nation's output is equal to

Of the following, the largest component of GDP is

A) personal consumption expenditure. B) gross private domestic investment. C) government expenditure on goods and services. D) net exports of goods and services.

If Mort's House of Flowers sells one dozen roses to different customers at different prices, economists would consider this an example of

A) rational ignorance. B) price discrimination. C) price gouging. D) arbitrage.