Question

dAlshehrCustomer Support Sign Out BAC 120-21 Home Grades Personaliced Reviews Discussion Measuring a Nation's Income (Mobile-Enabled) Graded Assignment Read Chapter S Back be Assignment Due Thursday 07 0538 at 08:00 AM Average: Attempts 1. The ecenomy's inceme and expenditure The following diagram presents a dircular iow medel of a simple econemy. The suber set of arvows ( in markets for fectors of preduction Based on this modelt, households earn income when Suppose Ana earns 5675 per week working as a doctor for bhe Medical Cic. She uses $9 to order a mojto cocktall at Lttle Havana. Litte Havana pays Yakov $430 per week to wait tables. Yelkov uses $325 to purchase mecical services from the Medical Clinic Identi?y whether each of the following events in this scenarie ocours in the market for factors of production or the market for goods and services Yakov earns $450 per week working for Lietle Havana. Ana spends $9 to order a mojto cocktail Ana carms $675 per week working for the Medical Cinic which ofuhe eements of this scenario represent a flow from apply household to firm? This cold be a now of dollars, inputs, oroutputs.aeck a" that The $325 Yakov spends to purchase medical services from the Medical Clinic The mogito Ana recelves U Ana's labor True or False: Fer the economy as a whole, expenditures must equal income. &ckam 153 1/2