Homework Answers
Option b
Firms after producing goods and services, it flows to Households who consume these goods and services from firms.
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A production possibilities fr Google Markets for B Goods and ervices Firms Househoids Markets for Factors...
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model,...
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when firms purchase factors in product markets. Suppose Juanita earns $850 per week working as an analyst for A-Plus Accountants. She uses $10 to order a mojito cocktail at Little Havana. Little Havana pays Gilberto $300 per week to wait tables. Gilberto uses $125 to purchase tax services from A-Plus Accountants. Identify whether each of the following events in this scenario...
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model,...
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income when purchase in factor markets. Suppose Caroline earns $825 per week working as an analyst for A-Plus Accountants. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Antonio $500 per week to wash cars. Antonio uses $350 to purchase tax services from A-Plus Accountants. Identify whether each of the following events in this scenario...
help me with these 3 problems please Markets for Goods and Services Firms Households Markets for...
help me with these 3 problems please
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when purchase in product markets. Suppose Ginny earns $575 per week working as a doctor for the Medical Clinic. She uses $8 to have breakfast at Dinah's Diner. Dinah's Diner pays Eric $275 per week to work as a short-order cook. Eric uses $125 to purchase medical services from the Medical Clinic dentify whether...
Explain the function of the goods and services market and the factors of production market in...
Explain the function of the goods and services market and the factors of production market in the Circular Flow Model. Explain both real and money flows and the role of prices in both the product and factor markets. Using an example, explain why the production possibilities frontier is bowed outward. Use the production possibilities frontier to explain fully economic growth, efficiency, and inefficiency. Suppose that China can use cheaper labour to produce every product more cheaply than Canada. Explain why...
0 The figure given below represents the production possibilities curve for goods and services in an...
0 The figure given below represents the production possibilities curve for goods and services in an economy 0 Figure 2.3 0 • Curvey • Curve X • • Services • cess ) O Refer to Figure 2.3. The movement from Curve X to Curve Y indicates O a contraction in the production of services OR YOU b. expansion in the ability to produce goods. Tools O c. expansion in the ability to produce services. d. contraction in the production of...
12) 12) In the circular flow model, A) firms are sellers of goods and services in...
12) 12) In the circular flow model, A) firms are sellers of goods and services in goods markets. B) households are buyers of goods and services in the factor markets C) households are sellers of factor services in goods markets. D) firms are sellers of the factors in factor markets. B) firms are buyers of goods and services in final markets 13) 13) Which one of the following is an income flow from firms to households? A) goods and services...
12.The flows of the services of the factors of production are _______. A. money flows from...
12.The flows of the services of the factors of production are _______. A. money flows from households through factor markets to firms B. real flows from households through factor markets to firms C. money flows from firms through factor markets to households D. real flows from firms through factor markets to households The incomes earned by the factors of production are _______. A. money flows from firms through factor markets to households B. money flows from households through factor markets...
14) Money Resource (Factor) Market production income Factors of v Businesses Households Product Market expenditures Consumption...
14) Money Resource (Factor) Market production income Factors of v Businesses Households Product Market expenditures Consumption Use this circular flow diagram illustrating the roles of businesses and individuals in both the product and resource markets to answer any questions that follow, Arrow IV represents the flow of which three things? A investment, credit, and capital Product Market expenditures Consumption Use this circular flow diagram illustrating the roles of businesses and individuals in both the pr resource markets to answer any...
QUESTION 10 A production possibilities frontier with increasing opportunity cost is considered and one with constant...
QUESTION 10 A production possibilities frontier with increasing opportunity cost is considered and one with constant opportunity cost is considered A concave, convex OB.convex, concave. C.concave, a straight line. Dvertical; horizontal QUESTION 11 The idea that all income ultimately goes to households, which then use it to buy goods and services from firms, is a central idea of the A production possibilities frontier B. supply and demand model C. circular flow diagram D.classical model
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A)...
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A) a change in the amounts of one good desired. B) an increase in the labor force C) a natural disaster like a hurricane or bad earthquake D) a reduction in unemployment. 48) If a nation's production possibilities frontier moves outward, this represents: A) economic growth. B) an impossible situation. C) rising prices of the two goods on the production possibilities frontier model. D) a...
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when firms purchase factors in product markets. Suppose Juanita earns $850 per week working as an analyst for A-Plus Accountants. She uses $10 to order a mojito cocktail at Little Havana. Little Havana pays Gilberto $300 per week to wait tables. Gilberto uses $125 to purchase tax services from A-Plus Accountants. Identify whether each of the following events in this scenario...
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income when purchase in factor markets. Suppose Caroline earns $825 per week working as an analyst for A-Plus Accountants. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Antonio $500 per week to wash cars. Antonio uses $350 to purchase tax services from A-Plus Accountants. Identify whether each of the following events in this scenario...
help me with these 3 problems please
Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when purchase in product markets. Suppose Ginny earns $575 per week working as a doctor for the Medical Clinic. She uses $8 to have breakfast at Dinah's Diner. Dinah's Diner pays Eric $275 per week to work as a short-order cook. Eric uses $125 to purchase medical services from the Medical Clinic dentify whether...
0 The figure given below represents the production possibilities curve for goods and services in an economy 0 Figure 2.3 0 • Curvey • Curve X • • Services • cess ) O Refer to Figure 2.3. The movement from Curve X to Curve Y indicates O a contraction in the production of services OR YOU b. expansion in the ability to produce goods. Tools O c. expansion in the ability to produce services. d. contraction in the production of...
12) 12) In the circular flow model, A) firms are sellers of goods and services in goods markets. B) households are buyers of goods and services in the factor markets C) households are sellers of factor services in goods markets. D) firms are sellers of the factors in factor markets. B) firms are buyers of goods and services in final markets 13) 13) Which one of the following is an income flow from firms to households? A) goods and services...
14) Money Resource (Factor) Market production income Factors of v Businesses Households Product Market expenditures Consumption Use this circular flow diagram illustrating the roles of businesses and individuals in both the product and resource markets to answer any questions that follow, Arrow IV represents the flow of which three things? A investment, credit, and capital Product Market expenditures Consumption Use this circular flow diagram illustrating the roles of businesses and individuals in both the pr resource markets to answer any...
QUESTION 10 A production possibilities frontier with increasing opportunity cost is considered and one with constant opportunity cost is considered A concave, convex OB.convex, concave. C.concave, a straight line. Dvertical; horizontal QUESTION 11 The idea that all income ultimately goes to households, which then use it to buy goods and services from firms, is a central idea of the A production possibilities frontier B. supply and demand model C. circular flow diagram D.classical model
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A) a change in the amounts of one good desired. B) an increase in the labor force C) a natural disaster like a hurricane or bad earthquake D) a reduction in unemployment. 48) If a nation's production possibilities frontier moves outward, this represents: A) economic growth. B) an impossible situation. C) rising prices of the two goods on the production possibilities frontier model. D) a...
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