In the circular flow diagram, aggregate expenditure includes
A) consumption expenditure, saving, investment and government expenditure.
B) consumption expenditure, saving, investment and net exports.
C) consumption expenditure, investment, government expenditure and net exports.
D) consumption expenditure, saving, government expenditure and net exports.
C
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Refer to Table 2-4. What is George's opportunity cost of cultivating a garden?
A) one-half of a garden cultivated B) two lawns mowed C) two-thirds of a garden cultivated D) one and a half lawns mowed
Command-and-control legislation, as compared to incentive-based regulation:
a. encourages the use of comparative advantage in the short run, and the development of new technology in the long run. b. encourages the use of comparative advantage in the short run, but discourages the development of new technology in the long run. c. discourages the use of comparative advantage in the short run, but encourages the development of new technology in the long run. d. discourages the use of comparative advantage in the short run, and discourages the development of new technology in the long run.