Answer the following questions true (T) or false (F)
1. In the circular flow model, households supply resources such as labor services in the product market.
2. A welding machine is an example of a factor of production if it is being used to produce automobiles.
3. One of the monetary policy goals of the Federal Reserve is price stability.
1. FALSE
2. TRUE
3. TRUE
Economics
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Economics can be described as the study of how people use ________ resources to satisfy ________ wants
A) unlimited; unlimited B) unlimited; limited C) limited; unlimited D) limited; limited
Economics
A consumer values a car at $30,000 and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . what level of sales tax will result in unconsummated transaction?
a. 0% b. 25% c. 20% d. 40%
Economics