In the context of the circular flow of economic activity,which of the following would NOT be a traditionalactivity of the government?O A. Purchases of capital goods from firms.O B. Provision of factors of production.O C. Provision of public goods and services.O D. Purchases of labour services from households.

Answer : B. Provisions of factors of production

Answered: In the context of the circular flow of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Bob remains in college for his senior year so he can graduate instead of starting his business one year early. Bob's opportunity cost of remaining in college is O the amount paid for tuition and books plus the amount he would have earned by starting his business. O the amount he paid for tuition and books during the year. O the amount he would have earned by starting his business O the amount paid for tuition, books, food, and housing during the year. « Previous Next » ASUS 47 EGO f9 5 7 R CO
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公。 < CO R 2C QUESTION 16 Free trade restricts a nation's ability to specialize in specific commodities that may allow for more efficient use of resources. O True O False QUESTION 17 Large countries tend to be more than small countries. O True O False QUESTION 18 The community indifference curve represents the tastes of demand preferences in a nation or region. True O.False Save All Answe MAR 12 tv 082 MacBook Air 08 DD F 7 F1 F2 F3 F4 F5 F6 F8 F10 i %23 2$ 2. 3. 4. 5. 96. 8. 6 P. A K G. L. B. N 10. option command command option
O For whom are goods and services to be produced? Who answers the three key economic questions in a traditional economic system? O custom & tradition O individual producers and consumers O a central authority O government and individuals Who answers the three key economic questions in a Market economic system?
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30)
If John didn't go to the movie tonight with a friend, he would save the $5 parking fee and spend four hours at working overtime at $15 per hour. The opportunity cost of spending the evening at the movies with his friend is: O A. $0 OB. $5 C. $60 O D. $65
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006.25.0 - MC - MANK08 D Over the last century, U.S. real GDP per person grew at a rate of about a. 2 percent per year, so that it is now 2 times as high as it was a century ago. Ob. 2 percent per year, so that it is now 8 times as high as it was a century ago. O c. 4 percent per year, so that it is now 2 times as high as it was a century ago. d. 4 percent per year, so that it is now 8 times as high as it was a century ago. D
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