Exam 2: The Usand Global Economies

Capital is best defined as

Human capital is

Which of the following is a consumption good or service?

Jan is attending college and studying to be an investment broker.To improve her chances of employment following college, she has interned at a top brokerage firm during the last two summers.Jan's internship has increased her

The circular flow model shows the

Terri is enrolled in her first economics course.She is required to give a presentation about the circular flow.Which of the following statements should she include in her presentation?

Emerging market economies are located primarily in

________ is the human resource that organizes labor, land, and capital.

What are the payments each factor of production receives?

In the circular flow model, which of the following owns the factors of production?

Of the following, the largest source of revenue for the federal government is

In the circular flow model with the government sector, transfers

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

Goods and services bought by the government account for around ________ percent of total production.

State and local governments obtain most of their revenue from

In the factor market, firms ________ and households ________.

In the circular flow model, which of the following is on the buying side in the goods market? I.firms Ii. households Iii. federal, state, and local governments

State and local governments finance expenditures mainly from

The national debt is the total amount the ________ government has ________ to make expenditures that exceed tax revenue.

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