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21 godz. temu · Study with Quizlet and memorize flashcards containing terms like In the circular-flow diagram, A. the factors of production are labor, land, and capital. B. firms own the factors of production. C. the factors of production are also called "output."
Econ 123. Macroeconomists study. a. the decisions of individual households and firms. b. the interaction between households and firms. c. economy-wide phenomena. d. regulations imposed on firms and unions. Click the card to flip 👆. economy-wide phenomena. Click the card to flip 👆.
21 godz. temu · A 28-year-old adult forms a written contract with an able-bodied and competent 17-year-old neighbor to cut her lawn for $200 per week. Heidi purchases an original work by one of her favorite sculptors from an art dealer for $8,000. When the sculpture is delivered, Heidi has it inspected by an art appraiser, who informs her that the sculpture is ...
21 godz. temu · Study with Quizlet and memorize flashcards containing terms like Europe had become a series of complicated alliances that, when implemented, propelled the continent to war in the summer of 1914. Serbia was allied with -- , which was allied with France. While -- was in agreement with, but not yet in a formal alliance with, France, Austria and its ally -- formed the Central Powers, and by the ...
21 godz. temu · In the circular flow model ______. households spend their income in the product market. True or false: The resource market is the place where resources or the services of households are produced. False. The function of firms in the circular flow model is to ______ resources and ______ products. purchase; sell.
