Which of the following statements about a circular flow model is false?
A) Producers are buyers in the factor market and sellers in the product market.
B) Households are neither buyers nor sellers in the input market.
C) Households are buyers in the product market.
D) Producers are buyers in the factor market.
B
Economics
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________ cost is defined as a cost of production that does not entail a direct money payment
A) An explicit B) An implicit C) A total D) A fixed E) A marginal
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Demonstrate how a permanent fiscal expansion will not increase output in the long run
What will be an ideal response?
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