ASAPPP! I need the 2 nd question sentences.2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond tothe flow of goods and services and the flow of money for each of the following activities.(a) Pervin pays a shopkeeper 1 manat for a litre of milk.(b) Nermin earns 3 manats per hour working at a fast food restraunt(c) Azer spends 7 euros to see a film.(d) Anar carns 10000 euros from his 10 percent ownership in a travel company.3. Are the following statements true or false? Explain in each case.(a) "Two countries can achieve gains from trade even if one of the countries has an absoluteadvantage in the production of all goods."(b) "Certain very talented people have a comparative advantage in everything they do."(c) "If a certain trade is good for one person, it can?t be good for the other one."4. Using supply and demand diagrams, show the effect of the following events on the marketfor sweatshirts.(a) A drought in Egypt damages the cotton crop.(b) The price of leather jackets falls.studente to attend morning cxercise classes in appropriate attire.

Macroeconomics analyzes the economy as a whole. It studies the aggregate economic concepts such as…

2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of money for each of the following activities. (a) Pervin pays a shopkeeper1 manat for a litre of milk. (b) Nermin earns 3 manats per hour working at a fast food restraunt (c) Azer spends 7 euros to see a film. (d) Anar carns 10000 euros from his 10 percent ownership in a travel company.

2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of money for each of the following activities. (a) Pervin pays a shopkeeper1 manat for a litre of milk. (b) Nermin earns 3 manats per hour working at a fast food restraunt (c) Azer spends 7 euros to see a film. (d) Anar carns 10000 euros from his 10 percent ownership in a travel company.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

ASAPPP! I need the 2 nd question

sentences.
2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond to
the flow of goods and services and the flow of money for each of the following activities.
(a) Pervin pays a shopkeeper 1 manat for a litre of milk.
(b) Nermin earns 3 manats per hour working at a fast food restraunt
(c) Azer spends 7 euros to see a film.
(d) Anar carns 10000 euros from his 10 percent ownership in a travel company.
3. Are the following statements true or false? Explain in each case.
(a) "Two countries can achieve gains from trade even if one of the countries has an absolute
advantage in the production of all goods."
(b) "Certain very talented people have a comparative advantage in everything they do."
(c) "If a certain trade is good for one person, it can?t be good for the other one."
4. Using supply and demand diagrams, show the effect of the following events on the market
for sweatshirts.
(a) A drought in Egypt damages the cotton crop.
(b) The price of leather jackets falls.
studente to attend morning cxercise classes in appropriate attire.

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