Resources that flow through the circular flow model include all of the following except:

When interpreting the meaning of an exchange rate, the first step is to always:

a. know exactly what the exchange rate signifies in terms of which currency is the denominator. b. watch for ways the currency might lose value. c. learn about recent behavior of the exchange rate. d. know exactly what the rate is at any moment in time.

A market in which a single firm hires labor, but workers compete against one another for jobs, is a bilateral monopoly.

Answer the following statement true (T) or false (F)