In a circular-flow model, households supply all of the following except
a. labor
b. goods and services
c. capital
d. entrepreneurial ability
e. natural resources
B
Economics
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Economists consider the economy to be at "full employment" when there is no cyclical unemployment
Indicate whether the statement is true or false
Economics
If the economy is operating at a point at which short-run aggregate supply is horizontal, then
A) real GDP cannot expand. B) real GDP cannot contract. C) increases in aggregate demand do not increase the price level. D) then increases in aggregate demand do not increase real GDP.
Economics