If the APC is 1.3, the APS is

In the circular flow model, which of the following owns the factors of production?

A) only federal, state, and local governments B) only households C) only firms D) both firms and households E) firms, households, and all levels of government

Which of the following purchases is included in the calculation of gross domestic product?

a) a used economics textbook from the bookstore b) new harvesting equipment for the farm c) 1,000 shares of stock in a computer firm d) a car produced in a foreign country e) government bonds issued by a foreign firm