Bundle: Principles of Macroeconomics, Loose-leaf Version, 8th + MindTap Economics, 1 term (6 months) Printed Access Card
8th Edition
ISBN: 9781337378994
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 2, Problem 1PA
To determine
Circular-flow diagram.
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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.
Sam pays a storekeeper $1 for a quart of milk.
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Stuart earns $10,000 from his 10 percent ownership of Acme Industrial.
a. Draw a circular-flow diagram. Identify the parts of the model that correspondto the flow of goods and services and the flow of dollars for each of thefollowing activities.
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Draw a circular flow diagram. Determine the parts of the model that correspond to theflow of goods and services and the flow of dollars for each of the following activities.i. Tupperware Company earns RM10 revenue on average from each water bottlesold.ii. Carmen earns RM6 wages per hour working at Seoul Garden restaurant.iii. Ms. Kek spends RM40 to get a haircut.iv. Ms. Goh earns RM3, 000 rental income from her 10 percent ownership of landproperty.
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Bundle: Principles of Macroeconomics, Loose-leaf Version, 8th + MindTap Economics, 1 term (6 months) Printed Access Card
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