International factor flows tend to lower incomes of those factors in host countries that most directly substitute for that factor, and to raise the incomes of other factors

Payments to households that do not require anything in exchange are called

A) transfer payments. B) government purchases. C) consumption expenditures. D) investment expenditures.

The Bay Area subway system, BART, offers senior citizens discounted fares for BART rides. This suggests that BART authorities believe that senior citizens have a ________ demand for subway rides

A) less price elastic B) more income elastic C) more price elastic D) less income elastic