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Katie has been charged with armed robbery.The judge has set her bail at $250,000.She is currently in jail awaiting a family member to raise her bail.This is Katie's first offense and she claims that she was forced to commit the crime by voices in her head. Until Katie's family raises her bail,she will remain
Circular-Flow Diagram
A visual model of the economy that illustrates the exchanges between households and firms through markets for products and resources.
Economy
A system of production, distribution, and consumption of goods and services in a particular geographic region.
Production Possibilities
A graphical representation showing the maximum quantity of goods and services that an economy can produce when all resources are used efficiently.
Circular-Flow Diagram
A visual model of the economy that shows how dollars flow through markets among households and firms.
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