A startup company produces luxury furniture. It purchases wood trom a local lumber mill and turns the wood into tables, chairs, and desks. Once the furniture is finished, trucks take it to a local mall where it is sold at a specialty store. Customers come from all over the state to buy new pieces of furniture that arrive each month. Which element of the story represents households in the circular flow model?
A startup company produces luxury furniture. It purchases wood trom a local lumber mill and turns the wood into tables, chairs, and desks. Once the furniture is finished, trucks take it to a local mall where it is sold at a specialty store. Customers come from all over the state to buy new pieces of furniture that arrive each month. Which element of the story represents households in the circular flow model?
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN:9781305280601
Author:William J. Baumol, Alan S. Blinder
Publisher:William J. Baumol, Alan S. Blinder
Chapter5: An Introduction To Macroeconomics
Section: Chapter Questions
Problem 1TY
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