In the extended version of the circular flow model, money flows from
a. government to households as tax payments
b. foreign economies to households as payments for exports
c. government to firms as payments for goods and services
d. firms to foreign economies as payments for exports
e. households to foreign economies as payments for resources
C
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Because two percent of the largest farms grow half of all of the grain in the United States, the grain industry is technically classified as an oligopoly
Indicate whether the statement is true or false
What short-run choice does the Phillips curve illustrate?
a. The choice between higher real wages and higher output b. The choice between cyclical unemployment and frictional unemployment c. The choice between a higher capital stock and inflation d. The choice between higher output per capita and maintaining the natural rate of unemployment e. The choice between unemployment and inflation