Suppose Poornima earns $550 per week working as a doctor for the Medical Clinic. She uses $8 to have breakfast at Dinah's Diner. Dinah's Diner pays Manuel $300 per week to work as a short-order cook. Manuel uses $100 to purchase medical services from the Medical Clinic. Identify whether each of the following events in this scenario occurs in the factor markets or the product markets. Event Factor markets Product markets Poornima spends $8 to have breakfast. Poornima earns $550 per week working for the Medical Clinic. Manuel spends $100 to purchase medical services from the Medical Clinic. Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $300 per week Manuel earns vorking for Dinah's Diner The $100 Manuel spends to purchase medical services from the Medical Clinic The work Poornima does for Dinah's Diner O The breakfast Poornima receives
Suppose Poornima earns $550 per week working as a doctor for the Medical Clinic. She uses $8 to have breakfast at Dinah's Diner. Dinah's Diner pays Manuel $300 per week to work as a short-order cook. Manuel uses $100 to purchase medical services from the Medical Clinic. Identify whether each of the following events in this scenario occurs in the factor markets or the product markets. Event Factor markets Product markets Poornima spends $8 to have breakfast. Poornima earns $550 per week working for the Medical Clinic. Manuel spends $100 to purchase medical services from the Medical Clinic. Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $300 per week Manuel earns vorking for Dinah's Diner The $100 Manuel spends to purchase medical services from the Medical Clinic The work Poornima does for Dinah's Diner O The breakfast Poornima receives
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 5PA
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