Other things being equal, the elasticity of demand for labor will be greater the:
A. Smaller the proportion of total costs accountable for by labor costs
B. Smaller the elasticity of demand for the product it produces
C. Larger the number of close substitute resources available
D. More rapid the decline in its marginal productivity
C. Larger the number of close substitute resources available
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Foreign purchases of stocks and bonds issued by U.S. corporations ________ between 1995 and 2007 and ________ in 2014
A) decreased slightly; increased slightly B) increased at a slow but steady pace; increased dramatically C) remained stagnant; declined sharply D) increased dramatically; declined
The flows of money compared to the flow of resources, goods, and services in the circular flow model
a. occur only once, then they become stocks (as opposed to flows) b. are equivalent when the number of households equals the number of firms c. move in the same direction as long as payments equal revenue d. always lag behind the flow of resources, goods, and services e. move in the opposite direction