Refer to Figure 2-16. In the circular flow diagram, who are economic agents A and who are economic agents B?
A) A= firms; B = product markets B) A = firms; B = households
C) A = households; B = firms D) A = households; B = factor markets
C
Economics
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Economic growth comes from ________
A) people willing to increase their skills in which case, economic growth is free B) producing more goods than people want to consume C) capital accumulation and the avoidance of opportunity cost D) capital accumulation and technological advance
Economics
Last year you earned $45,000 and paid $9,000 in income taxes. This year you earned $60,000 and paid $15,000 in income taxes. What kind of income tax do you face?
A) regressive B) progressive C) proportional D) traditional
Economics