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Based on this model, firms earn revenue when households purchase goods and services in markets for goods and services. Suppose Dina earns $575 per week working as a roofer for Chloe's Construction. She uses $8 to have a pint at Breanna's Brewing Company. Breanna Brewing Company pays Charles $325 per week to serve as head brewer. Charles uses $125 to purchase roofing supplies from Chloe's Construction. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Dina earns $575 per week working for Chloe's Construction. Charles earns $325 per week working for Breanna's Brewing Company. Charles spends $125 to purchase roofing supplies from Chloe's Construction. 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 beer Dina receives ✔The $325 per week Charles earns working for Breanna's Brewing Company The $125 Charles spends to purchase roofing supplies from Chloe's Construction True or False: Gross domestic product (GDP) cannot be used to measure the economy's income. O True O False

Based on this model, firms earn revenue when households purchase goods and services in markets for goods and services. Suppose Dina earns $575 per week working as a roofer for Chloe's Construction. She uses $8 to have a pint at Breanna's Brewing Company. Breanna Brewing Company pays Charles $325 per week to serve as head brewer. Charles uses $125 to purchase roofing supplies from Chloe's Construction. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Dina earns $575 per week working for Chloe's Construction. Charles earns $325 per week working for Breanna's Brewing Company. Charles spends $125 to purchase roofing supplies from Chloe's Construction. 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 beer Dina receives ✔The $325 per week Charles earns working for Breanna's Brewing Company The $125 Charles spends to purchase roofing supplies from Chloe's Construction True or False: Gross domestic product (GDP) cannot be used to measure the economy's income. O True O False

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter7: Demand And Supply
Section7.1: Demand
Problem 4R
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purchase goods and services in markets for goods and services. ) Suppose Dina earns $575 per week working as a roofer for Chloe's Construction. She uses $8 to have a pint at Breanna's Brewing Company. Breanna Brewing Company pays Charles $325 per week to serve as head brewer. Charles uses $125 to purchase roofing supplies from Chloe's Construction. Based on this model, firms earn revenue when households Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Dina earns $575 per week working for Chloe's Construction. Charles earns $325 per week working for Breanna's Brewing Company. Charles spends $125 to purchase roofing supplies from Chloe's Construction. 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 beer Dina receives The $325 per week Charles earns working for Breanna's Brewing Company The $125 Charles spends to purchase roofing supplies from Chloe's Construction True or False: Gross domestic product (GDP) cannot be used to measure the economy's income. O True False
Transcribed Image Text:purchase goods and services in markets for goods and services. ) Suppose Dina earns $575 per week working as a roofer for Chloe's Construction. She uses $8 to have a pint at Breanna's Brewing Company. Breanna Brewing Company pays Charles $325 per week to serve as head brewer. Charles uses $125 to purchase roofing supplies from Chloe's Construction. Based on this model, firms earn revenue when households Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Dina earns $575 per week working for Chloe's Construction. Charles earns $325 per week working for Breanna's Brewing Company. Charles spends $125 to purchase roofing supplies from Chloe's Construction. 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 beer Dina receives The $325 per week Charles earns working for Breanna's Brewing Company The $125 Charles spends to purchase roofing supplies from Chloe's Construction True or False: Gross domestic product (GDP) cannot be used to measure the economy's income. O True False
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