In the circular flow diagram, who owns the factors of production and consumes all of the goods and services produced?

Samuelson and Solow believed that the Phillips curve offered policymakers a menu of possible economic outcomes

a. True b. False Indicate whether the statement is true or false

Suppose Afghanistan receives monthly gifts of food and other consumption goods from the world's nations. What effect will these gifts have on the Afghanistan’s labor market?

a. The demand for labor will rise. b. The wage will rise and employment will fall. c. Fewer jobs will be available and wages will be lower. d. The gifts will have no effect on the labor market.