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ePack: Principles of Microeconomics 6th Edition by Gregory Mankiw
Edition 6ISBN: 978-1133150558ePack: Principles of Microeconomics 6th Edition by Gregory Mankiw
Edition 6ISBN: 978-1133150558 Exercise 1
Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities.
a. Selena pays a storekeeper $1 for a quart of milk.
b. Stuart earns $4.50 per hour working at a fast food restaurant.
c. Shanna spends $30 to get a haircut.
d. Sally earns $10,000 from her 10 percent owner ship of Acme Industrial.
a. Selena pays a storekeeper $1 for a quart of milk.
b. Stuart earns $4.50 per hour working at a fast food restaurant.
c. Shanna spends $30 to get a haircut.
d. Sally earns $10,000 from her 10 percent owner ship of Acme Industrial.
Explanation
Verified
Verified
a) Flow of Good service:-
Flow of Good ...
ePack: Principles of Microeconomics 6th Edition by Gregory Mankiw
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