A real flow in the circular flow diagram is
i. a firm's payments of wages to its workers.
ii. a household's purchase of a new car.
iii. a farmer's use of land to grow corn.
A) ii and iii
B) i only
C) i and iii
D) ii only
E) i, ii and iii
A
Economics
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Refer to Figure 4-9. What is the area that represents producer surplus after the imposition of the price floor?
A) B + E + F B) A + B + E C) B + E D) B + C + D + E
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Refer to the information above. If an economy has a real GDP doubling-time of 48 years, this can be reduced to 30 years if annual GDP growth is raised by ________ percentage points
A) 4 B) 2.4 C) 1.6 D) 0.9
Economics