Which of the following represent injections into the circular flow of income (2) 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 (2) 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: (2) (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 (2) 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.
(a) precautionary; interest rates (b) transactions;
(d) precautionary; national income
Multiple-choice questions: Select one correct answer for each of the following. In your answer booklet, write down only the number of the question and next to it, the letter of the correct answer.
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 ________.
(2)
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