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How does the addition of the government sector to the two sector model change the structure of the model and of the circular flows?
The addition of the government sector to the two-sector model, which includes households and businesses, introduces public spending and taxation into the circular flow of the economy. This modification allows for government interventions that can influence aggregate demand through public goods and services, as well as income redistribution via taxes and transfers. Consequently, the circular flow becomes more complex, incorporating government revenues and expenditures, which can affect overall economic activity and resource allocation. Overall, the inclusion of the government sector highlights the role of fiscal policy in managing economic stability.
What best describes the economic effect that results when the government increase interest rates and restricts the lending of money?
Borrowing money becomes more expensive and there is less investment in production.
Which best describes the economic effect that results when the government increases interest rates?
Borrowing money becomes more expensive and there is less investment in production.
What is the definition economic development?
The definition of economic development is the process in which an economy grows or changes and becomes more advanced, especially when both economic and social conditions are improved.
Hyperinflation causes which economic effect in a country?
The country's currency becomes nearly worthless.
What government policies must economic analysts anticipate and build into their findings?
Thus, anticipating and monitoring the government's manipulation of two powerful sets of economic instruments, fiscal policy and monetary policy, becomes the fifth step in the process.
What best describes the economic effect that results when the government increase interest rates and restricts the lending of money?
Borrowing money becomes more expensive and there is less investment in production.
At what point does an organization become an interest group?
An organization becomes an interest group "whenever it tries to influence the actions of government in order to promote its own goals and special interests."
One good thing that happened after the discovery of platinum?
It becomes rusty and nasty
Which best describes the economic effect that results when the government increases interest rates?
Borrowing money becomes more expensive and there is less investment in production.
How does starvation influence urine pH?
the urine becomes acidic
What is an energetic government?
That is when the government takes over and becomes a nanny state.
How does a government involved in a centrally planned?
The type of government determines how a government becomes centrally planned.
Contraction (business cycle)?
economic growth weakens and becomes a recession
What is the definition economic development?
The definition of economic development is the process in which an economy grows or changes and becomes more advanced, especially when both economic and social conditions are improved.
The question of how much influence a parent has in who their child becomes is studied by?
developmental psychologists.
What rights do people have when their government becomes destructive?
They have the right to alter or abolish the government by whatever organ best suited to the accomplishment of that task.
