Which of the following is an example of spending on goods and services in the circular flow model?
A) Belinda purchases a new computer for her tax-preparation business.
B) Timmy purchases a new examination table for use in his veterinary clinic.
C) Celeste buys fresh herbs at the farmers' market to use in her restaurant.
D) Javier buys 800 square feet of wood flooring for his vacation home.
D
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Economic theory assumes elected and appointed government officials
A) place their personal or private welfare ahead of the public interest. B) place the public interest ahead of any personal or private interests of their own. C) are free to pursue the public interest because they aren't constrained by competition. D) respond to the anticipated costs and benefits to themselves of decisions contemplated.
Refer to Figure 4-1. Kendra's marginal benefit from consuming the third ice cream cone is
A) $13.00 B) $2.50 C) $1.50 D) $0.50