In a closed economy firms sell goods and services to:
A) households and foreigners.
B) households and the government.
C) just the government.
D) none of the above.
Correct Answer:
Verified
Q12: The payments to the factors of production
Q13: If GDP falls:
A)income and production must both
Q14: To compute GDP:
A)simply sum the number of
Q15: In an open economy firms sell goods
Q16: If GDP rises:
A)income and production must both
Q18: An economy with only a domestic sector
Q19: The market value of all currently produced
Q20: An economy that has a domestic and
Q21: Table 11.1 Q22: Table 11.1
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