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
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter7: Demand And Supply
Section7.1: Demand
Problem 4R
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Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b1ad1a1-c1b3-4e0e-a2da-96f4de2a52dd%2Fb45c517f-301c-4bbf-a14e-98d266a140ab%2Fxalyk5d_processed.jpeg&w=3840&q=75)
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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