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t View History Bookmarks Window Help 2 Chapter 2 Homework Assignment Help Save&ExltSubmit Check my work HOUSEHOLDS el resources buy products BUSINESSES ·buy resources sell produets PRODUCT MARKET Businesses sell Instructions Enter your answers as whole numbers a. Suppose that businesses buy a total of $130 bill households. If households receive $72 billion in wages, $16 billion in rent, and $26 billion in interest, how much are households pald for providing entrepreneurial ability? on of the four resources (labor, land, capital, and entrepreneurial ability) from b. If househoids spend $70 billion on goods and $60 billion on services, how much in revenues do businesses くPrev 2of101ll Next MacBook Air 2 3
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Answer #1

Answer A = $16 billion for entrepreneurial ability

Answer B = $130 billion in revenues.

Reason -

(a) entrepreneurial ability = $130 billion in total factor payments - $72billion in wages - $16 billion in rent - $26 billion in interest

= 16 billion

(b) Households expenditure is equal to business revenue

Therefore, business revenue = $70 billion + $60 billion

= $130 billion

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