17.2_Economic Flow and Growth

Which of the following is sold in the factor market?

• A.pants sold to a grocery store owner

• B.a computer sold to a student

• C.tools sold to a home owner

• D.the labor of a farmer

Consumers participate in the factor market and in the product market.

• A.TRUE

• B.FALSE

The business sector participates only in the factor market.

• True

• False

Money flows to the business sector through the ________.

• A.factor market

• B.consumer sector

• C.product market

• D.factors of production

Factories are the link between consumers and businesses.

• True

• False

Which sector represents companies that produce goods and services?

• A.the product sector

• B.the business sector

• C.the foreign sector

• D.the government sector

The government can act as a consumer in the product market.

• True

• False

The foreign sector ____________________.

• A.does not participate in the product market

• B.does not participate in the factor market

• C.participates in both the product and the factor market

• D.participates in neither the product nor the factor market

When the GDP goes up, the _____________________.

• A.country is experiencing economic growth

• B.country is experiencing economic loss

• C.standard of living goes down

• D.standard of living stays the same

Human capital can be improved if workers gain ________.

• A.higher wages and better health care

• B.new machines and better materials

• C.education, training, and experience

• D.higher quality factors of production