In relation to the previous questions, what is the one key variable that answers the fundamental questions about microeconomics and what drives the economy? a). prices b)., Demand c). None of the answers provided is corrects d). Supply Which of the following best describes positive economics? a). It is the way thing are b). It is when the economy is doing very well c). It is a key indicator of how much money consumers are spending d). It is the way things could be Which of the following is used by economics as an example of a perfectly competitive market? a). eBay b). QVC c). The stock market d). NFTA True or False: Since water is important to substaning life, than diamonds, the twin forces of supply and demand dictate that water be just as expensive as diamonds

Markets for Goods end Services Fimys Households G Markets for Factors of D Production Refer to Figure 2-1 Which anow represents the flow of land, labor, and capital? ObD OCB ode Saved QUESTION 13 3.00000 points In the markets for the factors of production in the circula flow diagram O a households and firms are both buyers. b households and firms are both sellers O c households are buyers and firms are sellers, "d households are sellers and firms are buyers.GDP and the CPI - End of Chapter Problems 1. The accompanying circular-flow diagram represents the Trom - 110 economy of Macronia. Super profit a. What is the value of GDP in Macronia? Financial GDP = $ 690 b. What is the value of net exports? Net exports = $ 30 c. What is the value of disposable income? Disposable income = $ 510 d. Does the total flow of money out of households the sum of taxes paid, consumer spending, and private savings equal the total flow of money into households? Yes O No