Exam 2: The U.S.and Global Economies

Approximately ________ people live in the United States and ________ people live in the world.

Wages are paid to ________ and interest is paid to ________.

Capital is a factor of production.An example of capital as a factor of production is

An item that is purchased to increase businesses' productive resources is

The decisions of firms and households are

An example of a money flow in the circular flow diagram is

In the circular flow model,

Poland is classified as

The productive resource that includes all the "gifts of nature" is called

Which of the following correctly describes how the "global pie is baked"?

In the goods market,firms ________ and households ________.

Of the following,the largest single component of U.S.federal government expenditures is spent on

In the United States,how does the income received by the richest 20 percent of individuals compare with the income received by the other 80 percent?

In the United States,the poorest 20 percent of households receive about ________ percent of total income.

What determines the revenue flows received by businesses?

As the circular flow model points out,a choice that households make is how

Discuss the differences between developing and emerging market economies.

The circular flow model shows the flow of

Computers and insurance coverage produced in the United States and sold to people in other nations are categorized as

In the circular flow model,the expenditures on goods and services flow in the