Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 

An example of a real flow in the circular flow diagram is

A) a household's supply of work effort at its new business. B) Nike's payment of wages to workers in China. C) your county's collection of property taxes. D) the government's payment of wages to a soldier. E) a teacher's salary at the local high school.

The demand for labor is described as a derived demand because

A) it is derived from the demand for products that use labor in the production process. B) it is derived by workers seeking to earn income to fund the consumption of goods and services. C) it is derived from government institutions which rely on labor markets for the purpose of raising tax revenue. D) it is derived by producers seeking to make profits by starting new businesses.