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S S Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store. Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service. 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. Event Alyssa earns $850 per week working for Stephon's Satellite Service. Tim spends $350 to purchase satellite tv from Stephon's Satellite Service. Tim earns $525 per week working for Christian's Corner Store. Market for Factors of Production Market for Goods and Services O O. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $350 Tim spends to purchase satellite tv from Stephon's Satellite Service The $525 per week Tim earns working for Christian's Corner Store Alyssa's labor True or False: For the economy as a whole, expenditures must equal income. O True O False The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Firms Markets for Goods and Services Markets for Factors of Production Based on this model, firms earn revenue when Households purchase in markets for goods and services. Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store, Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service.

S S Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store. Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service. 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. Event Alyssa earns $850 per week working for Stephon's Satellite Service. Tim spends $350 to purchase satellite tv from Stephon's Satellite Service. Tim earns $525 per week working for Christian's Corner Store. Market for Factors of Production Market for Goods and Services O O. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $350 Tim spends to purchase satellite tv from Stephon's Satellite Service The $525 per week Tim earns working for Christian's Corner Store Alyssa's labor True or False: For the economy as a whole, expenditures must equal income. O True O False The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Firms Markets for Goods and Services Markets for Factors of Production Based on this model, firms earn revenue when Households purchase in markets for goods and services. Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store, Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service.

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 2CQQ
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S S Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store. Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service. 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. Event Alyssa earns $850 per week working for Stephon's Satellite Service. Tim spends $350 to purchase satellite tv from Stephon's Satellite Service. Tim earns $525 per week working for Christian's Corner Store. Market for Factors of Production Market for Goods and Services O O. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $350 Tim spends to purchase satellite tv from Stephon's Satellite Service The $525 per week Tim earns working for Christian's Corner Store Alyssa's labor True or False: For the economy as a whole, expenditures must equal income. O True O False
Transcribed Image Text:S S Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store. Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service. 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. Event Alyssa earns $850 per week working for Stephon's Satellite Service. Tim spends $350 to purchase satellite tv from Stephon's Satellite Service. Tim earns $525 per week working for Christian's Corner Store. Market for Factors of Production Market for Goods and Services O O. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $350 Tim spends to purchase satellite tv from Stephon's Satellite Service The $525 per week Tim earns working for Christian's Corner Store Alyssa's labor True or False: For the economy as a whole, expenditures must equal income. O True O False
The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Firms Markets for Goods and Services Markets for Factors of Production Based on this model, firms earn revenue when Households purchase in markets for goods and services. Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store, Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service.
Transcribed Image Text:The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Firms Markets for Goods and Services Markets for Factors of Production Based on this model, firms earn revenue when Households purchase in markets for goods and services. Suppose Alyssa earns $850 per week working as an installation technician for Stephon's Satellite Service. She uses $8 to buy shampoo at Christian's Corner Store, Christian's Corner Store pays Tim $525 per week to stock shelves. Tim uses $350 to purchase satellite tv from Stephon's Satellite Service.
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