1) In a circular flow diagram which one of the following transactions happens in the market for goods and services and which one in the market for factors of production? a) Selena pays a storekeeper $2 for a quart of milk. b) Shanna spends $30 to get a haircut. c) Stuart receives $12 per hour working in a barber shop. d) Salma earns $1000 dividend from the stocks she has.

1) In a circular flow diagram which one of the following transactions happens in the market for goods and services and which one in the market for factors of production? a) Selena pays a storekeeper $2 for a quart of milk. b) Shanna spends $30 to get a haircut. c) Stuart receives $12 per hour working in a barber shop. d) Salma earns $1000 dividend from the stocks she has.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 1PA

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