Question 6In the circular flow diagram, the HOURS you work for your employer are representedbyyou (a household) selling your labor to the firmyour employer (a firm) paying you wagesa service flowing from your employer to youRevenue flowing from you to the firmQuestion 7You give your friend $5000 in start up capital for her business in exchange for partownership. In the circular flow diagram, this is represented byyou (a household) offering capital to the firmYour friend paying you part of the profitsa service flowing from your friend's firm to youRevenue flowing from you to the firm

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In the circular flow diagram, the HOURS you work for your employer are represented by you (a household) selling your labor to the firm O your employer (a firm) paying you wages a service flowing from your employer to you Revenue flowing from you to the firm

In the circular flow diagram, the HOURS you work for your employer are represented by you (a household) selling your labor to the firm O your employer (a firm) paying you wages a service flowing from your employer to you Revenue flowing from you to the firm

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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