The four key markets that coordinate the circular flow of income are
a. goods and services, resources, loanable funds, and foreign exchange.
b. consumption, investment, stock, and government.
c. government, household goods, bond, and business.
d. financial, corporate, stock, and loanable funds.
A
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The above figure shows the situation of a monopolistic competitor in the short run. The maximum economic profits of the firm equal
A) $50,000. B) $30,000. C) 15,000. D) zero.
All other things remaining equal, low-income nations that increase their investments in deepening their human and physical capital bases will: a. experience higher growth rates than high-income nations that possess larger capital stocks per capita. b. experience lower growth rates than high-income nations that are more technologically advanced
c. incur lower costs than high-income nations that experience higher costs of production due to expensive labor. d. experience the same growth rates as high-income nations that are more technologically advanced.