Refer to the above figure. If box D represents the product market and flow (6) represents consumption expenditures, then box C is:
A. businesses, flow (7) is goods and services, and flow (8) is revenue.
B. businesses, flow (7) is revenue, and flow (8) is goods and services.
C. households, flow (7) is goods and services, and flow (8) is revenue.
D. households, flow (7) is revenue, and flow (8) is goods and services.
Answer: C
Economics
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Refer to Figure 5-2. The marginal benefit of the last unit produced is represented by the price
A) Pa. B) Pb. C) Pc. D) Pf.
Economics
Explain why economists do not use exchange rates to compare standards of living across countries. Also, discuss what economists do to avoid these problems
What will be an ideal response?
Economics