ECON: MACRO4 (with CourseMate, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423623
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 6, Problem 2.4PA
To determine
The Concept of Circular Flow model along with its steps.
Concept Introduction:
Circular flow model: It is the visual model which describes how the economy works and how the different sectors take part and exchange the resources in a circular way.
Expert Solution & Answer
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What are leakages in the circular flow diagram?Â
(B) Give example of leakage in a three sector economy
using the data below can you answer the question:
Month
Sales
Jan-16
747
Feb-16
697
Mar-16
1014
Apr-16
1126
May-16
1105
Jun-16
1450
Jul-16
1639
Aug-16
1711
Sep-16
1307
Oct-16
1223
Nov-16
975
Dec-16
953
Jan-17
1024
Feb-17
928
Mar-17
1442
Apr-17
1371
May-17
1536
Jun-17
2004
Jul-17
1854
Aug-17
1951
Sep-17
1516
Oct-17
1642
Nov-17
1166
Dec-17
1106
Jan-18
1189
Feb-18
1209
Mar-18
1754
Apr-18
1843
May-18
1769
Jun-18
2207
Jul-18
2471
Aug-18
2288
Sep-18
1867
Oct-18
1980
Nov-18
1418
Dec-18
1333
Jan-19
1333
Feb-19
1370
Mar-19
2142
Apr-19
2138
May-19
2078
Jun-19
2960
Jul-19
2616
Aug-19
2861
Sep-19
2237
Oct-19
2225
Nov-19
1590
Dec-19
1659
Jan-20
1613
Feb-20
1605
Mar-20
2349
Apr-20
2468…
K
Real-Time Data Analysis Exercise
What Are Dollars from the Past Worth Today? Compare how many dollars are needed today to match the purchasing power of dollars in the past.
The Consumer Price Index (CPI) for August 2023 was 306.269 and the CPI for August 1988 was 119.000.
"Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis
The value in August 2023 of $1,500 paid in August 1988 is $. (Round your response to two decimal places)
Chapter 6 Solutions
ECON: MACRO4 (with CourseMate, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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