Exam 2: The Usand Global Economies

In the goods market,firms ________ and households ________.

The data show that more than 60 percent of the total income earned in the United States goes to

Which of the following correctly lists the categories of factors of production?

Dividing the nation's income among the factors of production,the largest percentage is paid to

Describe the government's flows in the circular flow model of the economy.

The productive resource that organizes labor,land,and capital is

The two biggest items of the U.S.federal government revenue that together account for over approximately 80 percent of total federal government revenue are

Of the following,the largest source of tax revenue collected by state and local governments comes from

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

The figure above shows governments in the circular flow. -Social Security tax is deducted from your paycheck.In the figure above this will be shown as

A money flow in the circular flow diagram is i.the government's collection of taxes ii.Chevrolet's production of SUVs iii.Nike's payment of wages to its workers

In the factor market,firms ________ and households ________.

Which of the following correctly lists the categories of factors of production?

Factors of production are the

In the circular flow model,the factors of production flow in the

Poland is classified as

Which of the following is a consumption good or service?

Which of the following are sources of revenue for state and local governments? i.property taxes ii.sales taxes iii.transfers from the federal government

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

Within the circular flow model,economists define households as