The following diagram presents a circular flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs.
2. Efficiency in the production possibilities model
Suppose.... along with six output combinations represented by black points (plus symbols) labeled A to F.
Just look the chart.
3. Shifts in production possibilities
Suppose X X produces two types of goods: X and X. The following diagram shows its current production possibilities frontier
4. Opportunity cost and production possibilities
X is a skilled toy maker who is able to produce both Xs and Xs. She has 8 hours a day to produce toys. The following table shows the daily output resu..
5. Microeconomics and macroeconomics
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.
6. Normative and positive statements
Normative = Should
The following table contains statements that provide some analysis of policies that address X.
7. Agreement and disagreement among economists
Suppose that... The following dialogue shows an excerpt from their debate:
Please look at the dialogue in your question,
and use CTRL+F to search for the first two words.
A popular:
I think:
Most people:
Thanks to:
The usefulness:
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