In the circular flow model of an economy, households
A) receive income from buyers of goods and services.
B) receive income from the sale of factors in the goods markets.
C) pay firms for the use of their factors.
D) receive income from producers for the use of factors in the factor markets.
D
Economics
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If MFC > MRPL, the firm should
A) hire more workers. B) lower wages. C) get rid of some capital. D) reduce the number of workers.
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Merit is judged by one's ability to produce
A) what is considered useful by society. B) what is considered valuable by society. C) what is considered beneficial to society. D) all of the above.
Economics