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4 Written questions

4 Multiple choice questions

  1. Stuff
  2. The economy is getting all it can from the scarce resources it has available
  3. The study of economy-wide phenomena, including inflation, unemployment, and economic growth
  4. Households and firms

3 True/False questions

  1. Circular-flow diagrama visual model of the economy that shows how dollars flow through markets among households and firms


  2. Positive statementsClaims that attempt to describe the world as it is


  3. ModelHouseholds and firms


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