Which of the following represent injections into the circular flow of income and spending? (a) Exports and investment; (b) Government spending and imports; (c) Government spending and saving; (d) Imports and saving.
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Which of the following represent injections into the circular flow of income and spending?
(a) Exports and investment;
(b) Government spending and imports;
(c) Government spending and saving;
(d) Imports and saving.
In the circular-flow diagram, the goods markets are where:
(a) The households purchase goods from firms;
(b) Firms purchase goods from government;
(c) Firms purchase goods from households;
(d) The government purchases goods from households.
Money overcomes the problem of a double coincidence of wants inherent in the barter system through its function as a:
(a) unit of account.
(b) store of value.
(c) medium of exchange.
(d) standard of deferred payment.
The ________ demand for money arises out of the need to hold money as a medium of exchange. This demand for money is a function of ________.
(a) precautionary; interest rates
(b) transactions;
(c) speculative; interest rates
(d) precautionary; national income
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