Which of the following is true?
i. The advanced economies account for more than half of global production.
ii. Almost four out of every five people in the world live in the developing economies.
iii. In the advanced economies, agriculture accounts for a larger part of total production than in the developing economies.
A) Only i and ii
B) i, ii, and iii
C) Only i
D) Only ii and iii
E) Only i and iii
A
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In the simple circular flow model:
A. households are buyers of resources. B. businesses are sellers of final products. C. households are sellers of final products. D. there are real flows of goods, services, and resources, but not money flows.
Government purchases include government spending on:
A. government consumption goods and public capital goods. B. government consumption goods only. C. public capital goods only. D. government consumption goods, public capital goods, and transfer payments.