In the circular flow model, households
A) spend earnings from resource sales on goods and services in the product market.
B) and firms spend earnings from resource sales on goods and services in the factor market.
C) sell goods and services in the input market.
D) hire resources sold by firms in the factor market.
A
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Which of the following groups favored the suspension of preferential trade treatment for Bangladesh in 2013?
a. the U.S. Congress b. the Bangladeshi garment industry c. U.S labor leaders d. U.S. consumers
A single-price monopoly has marginal cost of $23 and marginal revenue of $28. Which of the following is definitely correct?
A) It is maximizing profit. B) To increase profit, it should produce less. C) To increase profit, it should produce more. D) It should shut down. E) It is making an economic profit.