Circular Income Flow in a Two Sectors economy: Real flows of resources, goods and services have been shown in Fig. To which of the arrows does this transaction directly contribute? Which Arrow Represents The Flow Of Income Payments? Refer to Figure 2-1. In exchange for payments that flow from households to firms, there is a flow of consumer goods and services from firms to households. Figure 2-1 A A B 00 Markets For Goods And Services Firms Households Le с D Markets For Factors Of Production D O A. a. Refer to Figure 2-1. 2. In each firm, and thus in the firm sector as a whole, revenues must equal payments to inputs. To which of the arrows does this transaction directly contribute? Juan buys a new pair of shoes at a shoe store. to which of the arrows does this activity contribute directly, refer to figure 2-2 the figure represents a circular-flow diagram. payments made through the United Kingdom’s domestic payment and settlement systems was far larger — around £245 trillion. Which arrow represents the flow of spending by households? b. D - bottom row from the bottom. a. B c. C d. D ANS: C PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 68. if marsh'a income is represented by a flow of dollars from box d to box b, then james's income is represented by a flow of dollars, refer to figure 2-2 the figure represents a circular-flow diagram. Which arrow shows the flow of income payments? This economy cannot produce at which point(s)? It represents the movement of income and resources. Which arrow represents the flow of goods and services? Table 2-5 shows one set of production possibilities. Refer to Figure 2-1. Houses are one example, with around £0.3 trillion bought in 2014. Which of the following is not a result of the shift of the economy's production possibilities frontier from Panel (a) to Panel (b)? a. B (Top inside/middle arrows) Refer to figure 2-1. Chapter 2/Thinking Like an Economisty 45 67. A. b. The rancher has a comparative advantage in, meat, and the farmer has a comparative advantage in potatoes, refer to table 3-1. the farmer and the rancher both could benefit if the farmer were to specialize in, potatoes and the rancher were to specialize in emat, the enjoyment and exercise he would have received had he played tennis, scarcity means that ther is less of a good or resource available than people wish to have. A b. a. ref to figure 2-1 which arrow represents the flow of spending by households. Production at point K is, Refer to Figure 2-9, Panel (a). B. c. C. d. D ____23. B. c. C. d. D. 103. 82 Refer to Figure 2 1 Which arrow represents the flow of income payments a A b from ECON MICROECONO at Sierra College refer to figure 2-1 which arrow represents the flow of spending by households, refer to figure 2-1 which arrow show the flow of land, labor, and capital, refer to figure 2-1 which arrow shows the flow of income payments, refer to figure 2-1 juan buys a new pair of shoes at a shoe store. Refer to Figure 2-1. I often like to draw things out when I’m visualizing things in this way, so the way I’ll usually do that is to draw a big box to represent a pool, an arrow to represent the flow of something into or out of a pool, and a cloud to represent something outside the scope of what I’m drawing, and I label each of those things as I go. Which arrow represents the flow of land, labor, and capital? The scientific method is applicable to studying. С Od.D. What is the opportunity cost of increasing the production of corn from 400 bushels to 800 bushels? If this economy moved from point P to point N, then. If this economy devotes all of its resources to the production of engines, then it will produce. Ali buys a new pair of shoes at a shoe store. Refer to Figure 2-7. Which Arrow Represents The Flow Of Income Payments? C - bottom second row from bottom. C. refer to figure 2-1 which arrow shows the flow of income payments. a. Table 2-5 shows one set of production possibilities. A b. A shift of the economy's production possibilities frontier from Panel (a) to Panel (b) could be caused by. What is the opportunity cost to Footville of increasing the production of shoes from 400 to 600? To which of the arrows does this transaction directly contribute? Refer to Figure 2-7. c. resources flow from firms to households, and goods and services flow from households to firms. Refer to Table 2-3. Refer to Figure 2-1. Refer to the above figure Which arrow represents the flow of income payments a from ECON 2013 at University of Arkansas Which Arrow Shows The Flow Of Income Payments? A ОБ. 9th grade. Production is, Refer to Figure 2-9, Panel (a). the purchase of s The macro stability condition requires leakages to be equal to injections. The model represents all of the actors in an economy as either households or firms (companies), and it divides markets into two categories: Which arrow represents the flow of income payments? In the upper loop of this figure, the resources such as land, capital and entrepreneurial ability flow from households to business firms as indicated by the arrow mark. B c. C d. D ANS: C 68. 24. a. referto figure 2-5. which of the follow events would explain the shift of the production possibilities frontier from A to B? Flow (2) might represent: Question 34 options: the services of NASA astrophysicists. Which arrow shows the flow of land, labor, and capital? Refer to Figure 2-1. This flow is shown in as an arrow going from firms to households. b. See the answer. A - top first row. Inefficient production is represented by which point(s)? Home is a country that produces two goods, pears and cellular phones. Based on the values in the table, the production possibilities frontier is. b. refer to figure 2-1 which arrow represents the flow of spending by households . Refer to Figure 2-7. The shift of the production possibilities frontier from A to B can best be described as. Which of the following combinations of corn and wheat is not currently attainable but would be attainable if there was an improvement in overall production technology? Which of the following does not appear on the outer loop? Refer to Figure 2-1. Refer to Figure 2-7. Refer to Figure 2-1. This problem has been solved! Save. ref to figure 2-1 which arrow shows the flow of income payments. To which of the arrows does this transaction directly contribute? A shift of the economy's production possibilities frontier from Panel (a) to Panel (b) could be caused by. Refer to Table 2-3. From an income statement and other financial documents, such as the cash flow statement, balance sheet, and annual report, you can determine whether the business is generating a profit; if it’s spending more than it earns; when costs are highest and lowest; how much it’s paying to produce its product; and whether it has the cash to invest back into the business. A only. Zoie completes her first week of employment working as a waitress at a restaurant. c. a. Previous question Next question Transcribed Image Text from this Question. Show transcribed image text. C only b. if the outer loop represents flows of dollars, then the inner loop includes, flows of inputs, of whihc firms are buyers, refer to figure 2-2 the figure represents a circular-flow diagram. refer to figure 2-3. which point represents the situation in which the economy is producing its maximum possible quantitiy of tubas? What is the opportunity cost of an increase in the production of wheat from 700 bushels to 1300 bushels? Social Studies. Which arrow represents the flow of spending by households? d. C and D ____24. B 5. Which of the following would most likely have caused the production possibilities frontier to shift outward from A to B? In the circular-flow diagram shown, boxes A and B represent a. firms and households. A b. This problem has been solved! The opportunity cost of one cup of coffee is highest when the economy produces, Refer to Figure 2-9, Panel (a). 34 times. B c. C d. D 35. Which arrow represents the flow of spending by households? Which arrow represents the flow of land, labor, and capital? Refer to Figure 2-1. One of the main basic models taught in economics is the circular-flow model, which describes the flow of money and products throughout the economy in a very simplified way. Refer to Figure 2-10, Panel (a). Get more help from Chegg . In the circular-flow diagram, which of the following items does not flow from firms to households? It represents the movement of goods, services, and taxes. A only. if household are buyers in the markets represented by box C, then, firms are sellers in the markets represented by box C, refer to figure 2-2 the figure represents a circular-flow diagram. Efficient production is represented by which point(s)? The outer loop of the circular-flow diagram represents the flows of dollars in the economy. a. Refer to Table 2-5. C (Bottom inside/middle arrows) Here are some production possibilities for an imaginary economy for a given year. B c. C d. D ANS: D REF: 2-1 TOP: Circular-flow diagram 104. Which arrow represents the flow of income payments? Production at point Y is, Refer to Figure 2-10, Panel (a). GDP measures the production of the economy and total income in the economy. Which arrow shows the flow of land, labor, and capital? To which of the arrows does this transaction directly contribute? D. refer to figure 2-1 juan buys a new pair of shoes at a shoe store. Unit 4 - Circular Flow of Income DRAFT. A b. Table 2-5 shows one set of production possibilities. Which of the following is not an injection into the circular flow of national income? 4. B ac d. D 36. Sonia completes her first week of employment working as a hairdresser at a salon. Refer to Figure 2-1. Last year, Home produced 450 bushels of pears and 1050 cellular phones. Harvey receives his first paycheck for working as an ice cream vendor. Table 2-5 shows one set of production possibilities. Show transcribed image text. Unemployment could cause this economy to produce at which point(s)? The opportunity cost of one sofa is highest when the economy produces, Refer to Figure 2-10, Panel (a). In the circular-flow diagram shown, which arrow shows the flow of income payments? Which of the following is not an injection into the circular flow of national income? if box A represents firms, then which box represents households, refer to figure 2-2 the figure represents a circular-flow diagram. A b. В c. C d. D 37. Which arrow represents the flow of income payments? A. b. Money flow and real flow are the two main aspects of the circular flow of income economic model. This is principally due to all of the buying and selling of assets and other financial market transactions that take place each year. The farmer has an absolute advantage in, potatoes, and the rancher has an absolute advantage in meat, refer to table 3-1. the rancher has an absolute advantage in, meat, and the farmerhas a comparative advantage in potatoes, refer to table 3-1.the farmer has an abosulte advantage in, potatoes, and the rancher has a comparativ advantage in meat, Refer to Table 3-1. a. A only b. 0. james owns office buildings and rents his building to companies in exchange for rent payments. Cars Newspapers 10 400 12 360 14 ? matt_gilberthorpe_43713. B only c. A and B d. C and D 6. What is the opportunity cost of moving from point M to point L? The circular flow in a two-sector economy is depicted in Figure 1 where the flow of money as income payments from the business sector to the household sector is shown in the form of an arrow in the lower portion of the diagram. d. C and D. 105. Raymond buys a refrigerator for his new home. refer to figure 2-3. inefficient production is represented by which point or points? The clockwise arrows represent the flow of goods and services. andrea regularly buys fruits and vegetables from the grocery store. Which types of models are built with assumptions? Preview this quiz on Quizizz. Refer to Figure 2-1. Refer to Figure 2-7. Expert Answer 100% (2 ratings) Previous question Next question Transcribed Image Text from this Question. scarce for households and scarce for economies, economics deals primarily with the concept of, the overridding reason as to why households and societies face many decisions is that. the economy experienced a technological advance in the production of batteries, refer to figure 2-5 the shift of the production possibilities frontier from A to B illustrates, if an economy is producing efficiently, then, there is no way to produce more of one good without producing less of another good, the bowed-out shape of the production possibilities frontier can be explained by the fact that, the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing, refer to table 2-1 what is the opportunity cost to toyland of increasing the production of dolls from 200 to 300. refer to table 2-1 which of the following statements accurately describes the production possibilities of toyland? The circular flow of income demonstrates how various sectors of an economy interact. With careful planning, we can usually get something that we like without having to give up something else that we like. Which arrow shows the flow of land, labor, and capital? refer to figure 2-3. the economy has the abilit to produce at which point or points? A 3, Which Arrow Represents The Flow Of Land, Labor, And Capital? For instance, the households provide labor and raw material to the firms and receive income. a. a. taxes flow from households to firms, and transfer payments flow from firms to households. A b. A. refer to figure 2-1 which arrow show the flow of land, labor, and capital. 5. O A.D Ob.B Occ OdA. boxes c and d represent, refer to figure 2-2 the figure represents a circular-flow diagram. If the average cost of transporting a passenger on the train from Chicago to St. Louis is $75, it would be irrational for the railroad to allow any passenger to ride for less than $75. This flow is shown in Figure 6.1 “Personal Consumption in the Circular Flow” as an arrow going from firms to households. See the answer. If the production possibilities frontier is bowed outward, then in place of "?" a. This year it produced 450 bushels of pears and 2000 cellular phones. The circular flow analysis is the basis of national accounts and hence of macroeconomics. on friday of that week she receives her first paycheck. Which arrow represents the flow of goods and services? Which arrow represents the flow of income payments? ref to figure 2-1 which arrow shows the flow of land, labor, and capital . Refer to Figure 2-7. A; b. A b. В Ос. Refer to Figure 2-1. A. b. ref to figure 2-1 Juan buys a new pair of shoes at a shoe store. Which arrow represents the flow of income payments? When you buy a soda, for example, your payment to the store is part of the flow of personal consumption; the soda is part of the flow of consumer goods and services that goes from the store to a household—yours. Refer to Figure 2-12. To which of the arrows does this transaction directly contribute? B. c. C. d. D. 104. Refer to Figure 2-1. B c. C d. D ANS: D 69. 6 months ago. Table 2-5 shows one set of production possibilities. a. Production is, Refer to Figure 2-10, Panel (a). Refer to Figure 2-1. Given no other information, which of the following events could explain this change. Refer to Figure 2-1. if householeds are sellers in this markets represnted by box D, then, refer to figure 2-2 the figure represents a circular-flow diagram. A and B. c. C only. a. A and B. c. C only. A b. To gain 2 tractors by moving from point W to point V, society must sacrifice, Refer to Figure 2-10, Panel (a) and Panel (b). B c. C d. D ANS: A 67. QUESTION 25 Figure 2-1 Markets for Goods and Services Firms Households Markets for Factors of Production Refer to Figure 2-1. Which arrow represents the flow of spending by households? if the flow of fruits and vegetables from the grocery store to andrea is represented by an arrow form box C to box B, then the money is paid by micahel to the lawn[care company is represented by an arrow. The movement from point W to point Y could be caused by, Refer to Figure 2-10, Panel (a). Refer to Table 2-5. B c. C d. D TYPE: M SECTION: 1 DIFFICULTY: 2 58. The movement from point M to point K could be caused by, Refer to Figure 2-9, Panel (a). Which arrow represents the flow of goods and services? refer to figure 2-3. efficient production is represented by which point or points? Refer to Figure 2-9, Panel (a). The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. Question: Econ 102 5 Ction FEH-1n Class Assignment 1 Factors Of 1, Which Arrow Represents The Flow Of Goods And Services? In the circular-flow diagram, which of the following items does not flow from households to firms? A b. Refer to Table 2-5. Which arrow represents the flow of goods and services? Refer to Figure 2-1. Ali buys a new pair of shoes at a shoe store. A. Refer to Figure 2-7. Which arrow represents the flow of land, labor, and capital? In this case, the flow of money (green arrow in the diagram below) goes from households to firms, in exchange for finished products, which flow from firms to households (red arrow). illustrating the flow of spending and income in an economy. the opportunity cost of an additional 100 dolls increases as more dolls are produced, refer to table 3-1. the opportunity cost of 1 pound of meat for the farmer is, refer to table 3-1. the opportunity cost of 1 pound of meat for the rancher is, refer to table 3-1. the opportunity cost of 1 pound of potatoes for the farmer is, refer to table 3-1. the opportunity cost of 1 pound of potatoes for the rancher is, Refer to table 3-1. Edit. In a closed economy, such as the example to the left, all the spending of households and firms must equal the income received by the factors and goods-and-services markets. Mohammed buys a new pair of Air Pods at the Apple store. a. The counterclockwise arrows represent the flow of money. It represents the movement of income and payments. To gain 2 donuts by moving from point L to point M, society must sacrifice, Refer to Figure 2-9, Panel (a) and Panel (b). Which Arrow Represents The Flow Of Spending By Households? Which of the following statements is correct? According to the circular flow diagram, if Denny is the owner of a landscaping business and he just received $50 for mowing Mrs. Pendleton's lawn. a. Which of the following statements is correct? The two loops in the circular-flow diagram represent. B. c. C. d. D. Show transcribed image text. Michael regularly pays a lawncare company to mow his lawn. There is thus a flow of factor services from households to firms, and a flow of payments of factor incomes from firms to households. refer to figure 2-3 at which point of points can the economy not currently produce? b. government and the foreign sector. The opportunity cost of moving from point J to point L is, Refer to Figure 2-9, Panel (a). if the owners of land, labor, and capital are represented by box B, then, refer to figure 2-2 the figure represents a circular-flow diagram. The opportunity cost of moving from point M to point L is, Refer to Figure 2-9, Panel (a). This economy has the ability to produce at which point(s)? Juan buys a new pair of shoes at a shoe store. Figure 18.13 Income, Spending, Payments to Inputs, and Revenues in the Simple Circular Flow. Refer to Figure 2-1. The opportunity cost of moving from point K to point L is, Refer to Figure 2-9, Panel (a). if the flow of goods and services is part of what is represented by the inner loop, then, the flow of factors of production is also part of what is represented by the inner loop, refer to figure 2-2 the figure represents a circular-flow diagram.. marsha works as an attorney for a corporation and is paid a salary in exchange for the legal services she performs. Refer to Figure 2-12. Refer to Figure 2-1. Refer to Figure 2-7. Refer to Figure 2-9, Panel (a) and Panel (b). Refer to Figure 2-1. a. Ali buys a new pair of shoes at a shoe store. The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. Boxes A and B represent, refer to figure 2-2 the figure represents a cirular flow diagram. 82% average accuracy. b. income payments flow from firms to households, and sales revenue flows from households to firms. Markets for --→ | Goods and Services Firms Households Markets for Factors of Production . Edit. This market represents the place where money and goods are exchanged. to which of the arrows does this purchase directly contribute, refer to figure 2-1 michelle completes her first week of employment working as a hairdresser at a salon. Refer to Table 2-5. Which arrow shows the flow of income payments? 2.1. 4. Refer to Figure 2-1. tuition is the single opportunity cost of attending college for most students. Both refer to exchanges of goods and services for money, but the … Expert Answer . Leakages include: a. between economic agents.The flows of money and goods exchanged in a closed circuit correspond in value, but run in the opposite direction. In each household, and thus in the household sector as a whole, income must equal spending. Refer to Table 2-5. Which arrow shows the flow of land, labor, and capital? What is the opportunity cost of moving from point L to point M? Refer to Figure 2-7. Which arrow represents the flow of income payments?

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