HAHANAPORNA ONE WALAyang orStore, Christian's Corner Store pays Antonio $400 per week to stock shelves. Antonio uses $250 to purchase a flight from PlaneRed Airlines.Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services.Market for Factors of Production Market for Goods and ServicesEventAntonio spends $250 to purchase a flight from PlaneRed Airlines.Caroline spends $8 to buy shampoo,Antonio earns $400 per weekworking for Christian's Corner Store.Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs, Check all thatapply.Caroline's laborThe $400 per week Antonio earns working for Christian's Corner StoreThe shampoo Caroline receivesTrue or False: Gross domestic product (GDP) measures total expenditures on final goods and services during a given period of time.TrueO False The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and theinner set of arrows (shown in red) shows the corresponding flow of inputs and outputs.FirmsMarkets forGoods and ServicesMarkets forFactors of ProductionBased on this model, households earn income whenHouseholdspurchasein markets for factors of production.Suppose Caroline earns $650 per week working as an air traffic controller for PlaneRed Airlines. She uses $8 to buy shampoo at Christian's CornerStore. Christian's Corner Store pays Antonio $400 per week to stock shelves. Antonio uses $250 to purchase a flight from PlaneRed AirlinesIdentify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services.

Green arrow in the diagram represent flow of dollars and red arrows represent flow of inputs and…

Store. Christian's Corner Store pays Antonio $400 per week to stock shelves. Antonio uses $250 to purchase a flight from PlaneRed Airlines. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Antonio spends $250 to purchase a flight from PlaneRed Airlines. Caroline spends $8 to buy shampoo, Antonio earns $400 per weekworking for Christian's Corner Store. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs, Check all that apply. Caroline's labor The $400 per week Antonio earns working for Christian's Corner Store The shampoo Caroline receives

Store. Christian's Corner Store pays Antonio $400 per week to stock shelves. Antonio uses $250 to purchase a flight from PlaneRed Airlines. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Market for Factors of Production Market for Goods and Services Event Antonio spends $250 to purchase a flight from PlaneRed Airlines. Caroline spends $8 to buy shampoo, Antonio earns $400 per weekworking for Christian's Corner Store. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs, Check all that apply. Caroline's labor The $400 per week Antonio earns working for Christian's Corner Store The shampoo Caroline receives

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 2CQQ

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