One thing the simple circular flow model shows is ______.
a. that firms pay households for capital inputs
b. where political power is concentrated
c. that firms are the buyers in product markets
d. the average capital holdings of households
a. that firms pay households for capital inputs
You might also like to view...
Economic freedom is crucial for achieving economic growth because ______.
A. it gives the incentive to save, invest, expand human capital, and discover and apply new technologies B. it ensures that the majority of citizens make the most important decisions C. only good government can make the right investment decisions D. it protects workers' rights and prevents unfair firing E. it upholds democracy, which is essential if an economy is to grow
Refer to the graph shown. If the marginal cost external to the trade associated with the use of gasoline is $0.10 per gallon, the point on the graph corresponding to the efficient quantity and price is:
A. K. B. L. C. H. D. G.