Graphically show the Circular Flow of Income and Goods (Closed Economics. Add in Government Sector) as presented in the virtual/remote lecture. Include all three markets: Labor, Product, Capital and the Government sector.Indicate the flow between the markets and sector--directions of flow and proper labels.

In a command economy, establish(es) what will be produced and when, set(s) production goals, and make(s) rules for distribution. individuals and households only privately owned firms individuals, households and privately owned firms a centralized authority

Refer to the information provided in Figure below for the economy of Macroland to answer the question. Capital goods A Consumer goods Refer to Figure above Macroland's production possibility frontier is bowed out from the origin due to Select one: a. decreasing opportunity costs. b. trade. c. specialized resources. d. unemployment.

Which from the three given theories (X, Y, (Douglas McGregor theory) Z (Dr. William Ouchi theory) expressed the human side of an organization. Explain

Choose the best answers using the circular flow model. The resource market provides the government with________. - revenue - goods and services - expenditures - land, labor, capital, and entrepreneurship - resources

Which of the below statements is INCORRECT about about a specific market economy such as the U.S. (America), or market economies in general? Group of answer choices   In market economies government bureaucrats direct everything from the number of bars of soap a factory can produce to the number who students who may study electrical engineering.   Complex economies in which billions of transactions every day, the vast majority of which happen withou any direct government involvement.   In the twentieth century in one market economy life expectancy increased from forty-seven years to seventy-seven, and infant mortality plunged by 93%..

Question 3 How does the Specific-Factors model discussed in this chapter differ from the Ricardian model we covered in Chapter 2? The Ricardian model assumes labor is the only factor of production, while the Specific-Factor model assumes labor, land, and capital are all factors of production. The Factor-Specific model assumes constant opportunity cost, while the Ricardian model does not. O The Specific-Factor model contends that trade generates gains for some factors and losses for others. On the other hand, the Ricardian model assumes trade generated gains for all workers. O The PPF in the Specific-Factors model is bowed outwards, while in the Ricardian model it is a straight line. The Ricardian model assumes movement across workers, while the Specific-Factors model does not.