Answer to Question #89916 in Microeconomics for Wong jing ru

Question

Q1: Draw a circular flow diagram. identity the parts the model that correspond to the flow of good and services and the flow of dollars for each of the following activities.

A) Selena pays a storekeeper $1 fpr a quart of milk.

B) Stuart earns $8 per hour working at a fast food restaurant.

C) Shanna spends $40 to get a haircut.

D) Salma earns $20,000 from her 10 percent owner-ship of Ance Industrial.

Answer 1

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