EBK ECON: MACRO4
4th Edition
ISBN: 9781305562097
Author: MCEACHERN
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 6, Problem 2.4PA
To determine
The Concept of Circular Flow model along with its steps.
Concept Introduction:
Circular flow model: It is the visual model which describes how the economy works and how the different sectors take part and exchange the resources in a circular way.
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B) both B and C
both A and C
D) both A and B
E) only D
y
Xebo
Figure A
X
Figure B
Figure C
26) In the diagram above, which figure(s) show(s) no relationship between the variables?
A) only B
X
Figure D
X
What are leakages in the circular flow diagram?
(B) Give example of leakage in a three sector economy
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