In the circular flow model, which of the following flows in the opposite direction from the flow of factors of production?
A) finished goods and services
B) wages, rent, interest, and profit
C) interests payments of Federal, state, and local governments
D) firm's profit incentives
E) the goods market
B
Economics
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The law of diminishing marginal returns says that as the firm uses more of ________, with a given quantity of ________, the ________ product of the variable input eventually diminishes
A) a fixed input; variable inputs; marginal B) all inputs; capital; average C) a variable input; fixed inputs; average D) a variable input; fixed inputs; marginal
Economics
The monetary base consists of:
A) currency plus reserves. B) currency plus required reserves. C) currency plus excess reserves. D) currency plus demand deposits.
Economics