The circular flow diagram illustrates the flow of resources between households and government
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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If nominal gross domestic product is $4,800 and the money supply is $600, the velocity of money is _____
a. 18.3 b. 8 c. 4.57 d. 12
Economics
Refer to the information provided in Table 19.4 below to answer the question(s) that follow.Table 19.4Total IncomeTotal Taxes$10,000 $1,000 20,000 2,400 30,000 4,500 40,000 8,000Related to the Economics in Practice on page 393: Refer to Table 19.4. At an income level of $40,000, the average tax rate is
A. 2%. B. 5%. C. 15%. D. 20%.
Economics