A money flow in the circular flow diagram is
i. the government's collection of taxes.
ii. Chevrolet's production of SUVs.
iii. Nike's payment of wages to its workers.
A) i only B) ii only C) i, ii and iii D) ii and iii E) i and iii
E
Economics
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Perfect competition is characterized by all of the following EXCEPT
a. a large number of buyers and sellers. b. identical products. c. sellers acting together to set prices. d. well-informed buyers and sellers.
Economics
Refer to Scenario 2.1. If P = $15, which of the following is true?
A) Quantity supplied is greater than quantity demanded. B) Quantity supplied is less than quantity demanded. C) Quantity supplied equals quantity demanded. D) There is a surplus.
Economics