Which markets are depicted in the basic circular flow model?
A) the factor market and the bond market
B) the stock market and the bond market
C) the money market and the foreign exchange market
D) the goods market and the stock market
E) the goods market and the factor market
E
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Suppose that U.S. incomes rise relative to British incomes. Then,
a. the dollar will appreciate and the pound will depreciate b. the dollar will depreciate and the pound will appreciate c. the dollar will depreciate and the pound's value will remain constant d. the dollar will appreciate and the pound's value will remain constant e. neither the dollar nor the pound will be affected
Suppose that the government places a price ceiling in the fish market, and that the ration coupons it issues are bought and sold on a ration coupon market before they are used to purchase fish. Then the
a. excess supply of fish will be eliminated b. price of fish set by the price ceiling would fall c. price of fish set by the price ceiling would rise d. price ceiling must have been too low e. purpose of that price ceiling would be defeated