Describe in your own words the difference between a stock and a flow.For each of the following activities,determine whether it is a stock concept or a flow concept:
(a)Sue earns $5.75 per hour working at the Burger Barn.
(b)On his way home from work,Sam finds a ten-dollar bill.
(c)Upon graduation,John accepts a job with a salary of $2,000 per month.
(d)Jennifer saves 10% of her monthly income.
(e)In 2004,Canada's production of pig-iron was 2,000 metric tonnes.
(f)Japan has a capital to labour ratio of 10 whereas China has a capital to labour ratio of 2.
A stock concept is a measure of something at a particular point in time.
A flow concept is a measure of something during a specific time period.

Question

Quizplus · Accepted Answer

The Answer of Describe in your own words the difference between a stock and a flow.For each of the following activities,determine whether it is a stock concept or a flow concept:
(a)Sue earns $5.75 per hour working at the Burger Barn.
(b)On his way home from work,Sam finds a ten-dollar bill.
(c)Upon graduation,John accepts a job with a salary of $2,000 per month.
(d)Jennifer saves 10% of her monthly income.
(e)In 2004,Canada's production of pig-iron was 2,000 metric tonnes.
(f)Japan has a capital to labour ratio of 10 whereas China has a capital to labour ratio of 2.
A stock concept is a measure of something at a particular point in time.
A flow concept is a measure of something during a specific time period.

Describe in Your Own Words the Difference Between a Stock