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The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of

The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of Inputs and outputs. A-Z Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income when purchase in markets for factors of production Suppose Eileen earns $725 per week working as a for Classy's Jewelry Store, She uses $10 to have breakfast at Dinah's Diner Dina's Diner pays Clancy 5225 per week to work as households cook. Clancy uses $300 to purchase a necklace from Classy's Jewelry Store
Omework (Ch 10) 1. The economy's income and expenditure The following diagram presents a circular-low model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the Inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs |A-Z Markets for Goods and Services LA Firms Households Marts for Factors of Production purchase Based on this model, households earn income when in markets for factors of production Suppose Eleen earns $725 per week working as a jewelry appraiser for Classy's goods and services es $10 to have breakfast at Dinah's Diner Dinah's Diner pays Clancy $225 per week to work as a short-order cook. Clancy labor and capital a necklace from Classy Jewelry Store
Suppose Eileen earns $725 per week working as a jewelry appraiser for Classy's Jewelry St Dinah's Diner pays Clancy $225 per week to work as a short-order cook. Clancy uses $300 to purchase a necklace from Classy's Jewelry Store. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Clancy earns $225 per week working for Dinah's Diner. Eileen spends $10 to have breakfast Clancy spends $300 to purchase a necklace from Classy's Jewelry Store. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply Elleen's labor The breakfast Eween receives The $300 Clancy spends to purchase a necklace from Classy's Jewelry Store True or False: For the economy as a whole, expenditures must equal income True False


х Homework (Ch 10) 1. The economys income and expenditure The following diagram presents a circular-flow model of a simple e
Omework (Ch 10) 1. The economys income and expenditure The following diagram presents a circular-low model of a simple econo
Suppose Eileen earns $725 per week working as a jewelry appraiser for Classys Jewelry St Dinahs Diner pays Clancy $225 per

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