How does the circular flow model help people see the error in believing there is a fixed lump of labor? A. Adding new people into the model means they can only have a job if they take it from someone else. So, there are more households, not more jobs.

B. Adding new people into the model means that there are more firms and production increases. So, there are more goods and services, but not more households.

C. Adding new people into the model increases the supply of labor and increases the demand for goods and services.

D. Adding new people into the model does not change the demand for goods and services; it only changes the supply of labor.

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

You are president of a large corporation. at a typical monthly meeting, each of your vice presidents gives standard area reports. in the past, these reports have been good, and the vps seem satisfied about their work. based on situational approach to leadership, which leadership style should you exhibit at the next meeting?