Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities. i. Paul purchases a pair of shoes for $30. ii. Shannon receives a salary of $1,500 per week at the supermarket which she works. iii. Honda Limited receives $20,000 for the sale of a sports utility vehicle. iv. Mark earns $2,000 from his 15 percent ownership of Apple stock.

Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities. i. Paul purchases a pair of shoes for $30. ii. Shannon receives a salary of $1,500 per week at the supermarket which she works. iii. Honda Limited receives $20,000 for the sale of a sports utility vehicle. iv. Mark earns $2,000 from his 15 percent ownership of Apple stock.

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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