The two sectors of the economy in the simple circular flow model are
A) the employed and the unemployed. B) households and businesses.
C) foreign markets and domestic markets. D) the private sector and the public sector.
B
Economics
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The marginal revenue curve of a monopolistic competitor ________
A) lies above the demand curve B) lies below the demand curve C) is the same as the demand curve D) is the same as the supply curve
Economics
Which of the following is a normative economic statement?
a. The unemployment rate for the United States is currently 5.4 percent. b. The inflation rate in the United States is too high. c. An increase in the price of a good will reduce the amount purchased. d. Higher profits in an industry will attract more entrepreneurs into the industry.
Economics