Which of the following best characterizes the circular flow of income?
a. Households buy goods and services from businesses, and businesses sell goods and services to households.
b. The government purchases resources from businesses and households and then sells goods and services to businesses and households.
c. Businesses buy resources from the government, and households buy goods and services from businesses.
d. Businesses buy resources from households, and households use their income to buy goods and services from businesses.
D
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Adolph Wagner wrote that the public sector would continuously and inevitably expand due to
a. bureaucratic self-interest. b. the "tyranny of the status quo". c. labor's increasing demand for social justice. d. increasing demand for military protection from international threats.
Nasdaq
a. operates under a private rule b. is run and managed by the SEC c. is an example of a public ordering d. is an example of a public good e. none of the above