Let's put dollar amounts on the flows in the circular flow diagram below.RESOURCEMARKETCostsResourcesBUSINESSESbuy resources-sell productsandRevenueHouseholds sell-Businesses buyPRODUCTMARKET-Businesses sell-Households buybilliononey Income (wages rentsLabor, and capitalDeurial abayInterest, profitaentrepreHONSEHOLDS-Presources.buy productsGoods andds and servicesConsumptionInstructions: Enter your answers as a whole number.Suppose that businesses buy a total of $190 billion of the four resources (labor, land, capital, and entrepreneurial ability) fromhouseholds. If households receive $96 billion in wages, $28 billion in rent, and $38 billion in interest, how much are householdspaid for providing entrepreneurial ability?billionb. If households spend $100 billion on goods and $90 billion on services, how much in revenues do businesses receive in theproduct market?

The circular flow of income is an economic model that represents economic transactions in a market…

Let's put dollar amounts on the flows in the circular flow diagram below. Costs Resources BUSINESSES .buy resources sell products Goom and service Revenue RESOURCE MARKET Households sell -Businesses buy PRODUCT MARKET Businesses soll -Households buy Money neurial Labor, and, capital Interest prof come images ents entrepre Goods and HONSEHOLDS resources .buy products Service Consumption Instructions: Enter your answers as a whole number. a. Suppose that businesses buy a total of $190 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $96 billion in wages, $28 billion in rent, and $38 billion in interest, how much are households paid for providing entrepreneurial ability? billion b. If households spend $100 billion on goods and $90 billion on services, how much in revenues do businesses receive in the product market? billion

Let's put dollar amounts on the flows in the circular flow diagram below. Costs Resources BUSINESSES .buy resources sell products Goom and service Revenue RESOURCE MARKET Households sell -Businesses buy PRODUCT MARKET Businesses soll -Households buy Money neurial Labor, and, capital Interest prof come images ents entrepre Goods and HONSEHOLDS resources .buy products Service Consumption Instructions: Enter your answers as a whole number. a. Suppose that businesses buy a total of $190 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $96 billion in wages, $28 billion in rent, and $38 billion in interest, how much are households paid for providing entrepreneurial ability? billion b. If households spend $100 billion on goods and $90 billion on services, how much in revenues do businesses receive in the product market? billion

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 12RQ: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?

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Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?
What is productive efficiency? Allocative efficiency?
I don't know how to draw that graph and about those changes..Will u please help me to solve that issue?
Afcasible production combination for a firm producing/twO: outputs must.be (aOutside tlie pröduction sstbitities fronticrtPPF)" (b) Iaside the PPF ) On the PPE.at-the-pointoftangency with-the iso-revenue Line
MNLogs harvested logs (with no inputs from other companies) from their property in northern Minnesota. They sold these logs to MNLumber for $2,500 and MNLumber cut and planed the logs into lumber. MNLumber then sold the Ilumber for $4,000to MNFurniture. MNFurniture used the lumber to produce 100 tables that they sold to customers for $90 each. Instructions: Enter your responses as whole numbers. a. Complete the table below to calculate the value added by each firm. Company Revenues Cost of purchased inputs Value added MNLogs $ $ MNLumber $ $ $ MNFurniture $ b.Suppose that all of these transactions took place in 2016. By how much did GDP increase because of these transactions? 2$ c.Suppose that MNLogs harvested the logs in October 2016 and sold them to MNLumber in December 2016. MNLumber then sold the finished lumber to MNFurniture in April 2017 and MNFurniture sold all 100 tables during the rest of 2017. By how much did GDP increase in 2016 and 2017 because of these transactions? GDP…
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bongo O Topic: H G How wc A Recorde * Min x b Answere A Files A Grades Q ETX 20 Q Midtern Q ETX 20 Q ЕTX 20 M Inbox (7 A Assignn C Crunch N Netflix O (5) COA ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=5983131871027318950422967971&elSBN=97803571336688&id=D1056367112&isnapshotld=2191097& Update : Geoffrey v CENGAGE MINDTAP Q Search this course A My Home Homework (Ch 16) The following graph shows the money market in equilibrium at an interest rate of 7.5% and a quantity of money equal to $60 billion. Courses Show the impact of the increase in government purchases on the interest rate by shifting one or both of the curves on the following graph. O Catalog and Study Tools A-Z Partner Offers EE Rental Options 15.0 Money Supply - College Success Tips 12.5 Money Demand Career Success Tips RECOMMENDED FOR YOU 10.0 Money Supply 7.5 5.0 Evaluating Online Money Demand Information 2.5 e Help 20 40 60 80 100 120 Give Feedback MONEY (Billions of dollars) Suppose that for each…
b My Questions | bartleby G translate - Google'da Ara ECON310 MT Assignment-dönüştürüldü - Microsoft Word L!n A bartleby.com/dashboard/my-questions Giriş Ekle Sayfa Düzeni Başvurular Postalar Gözden Geçir Görünüm Times New Roman 12 = bartle Ask a Questi K T A- abe x, x Yapıştır Hızlı Stilleri Stiller Değiştir Düzenleme ab Aa A A の,圈 T 9 out of 10 questions left until M Yazı Tipi Pano Paragraf Stiller Ask our subject matter experts your homework question and Hi Ağa Subject Choose a subject My Solutio 0/5. 囲v I X2 Ix PART 2 1- Indicate ifthe following data sets represent time-series, cross section orpanel data a- Number of the registered students of the North Cyprus Universities between the years 1995 and 2016. b- Inflationrate ofthe EUmembers in 2020. c- FDI to Turkey between the years 1990 and2016. d- Employment rate in Zimbabwe over the months from 2018 January to 2020 December. 2- Give the number of observations ofthe following data sets? Qu 3. a- Inflation rate ofthe EUmembers in…
homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA Diana Arenas - REFERENCIAS CORRESPONDENCIA REVISAR VISTA X Cortar A Buscar - - |11 - A Calibri (Cuerpo) A Aa- A AaBbCcDd AaBbCcDd AaBbC AaBbCc AABI AaBbCcD ab Copiar Sac Reemplazar A- aby , A 1 Normal 1 Sin espa.. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 11. Price discrimination only occurs under monopoly. True or false 12. It is true that the distribution process carried out by the price system A. All of the responses are true B. accomplishes the task more efficiently than central planners would. C. favor the rich D. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences 13. It is in society's best interest that the MC of the last unit product of a good is equal to its MU. True or false 14. For a monopoly, MC=MR
homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA CORRESPONDENCIA Diana Arenas - REFERENCIAS REVISAR VISTA X Cortar A Buscar - -|11 - A Calibri (Cuerpo) A Aar A AаBЬСcDd AaBЬСcDd AaBbС AаBbСcС Аав АавЬСсD ab Copiar Sac Reemplazar 1 Normal 1 Sin espa. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² A - aly . A Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 21. Laissez-faire is a policy that espouses central planning. True or false 22. If MU=MC=P, and economist van judge with certainty that the distribution of output is A. Equal B. efficient C. Fair D. Unbiased 23. If arrival and departure delays are frequent early in the morning and late afternoons, but there are no delays during the evening hours, we can conclude that the airport authority A. Charges high landing fees at common departure and arrival times B. Should reduce the number of flights during the busy times C. is concerned about the…
Use the following information toanswer the questions belowComputers:Soybeans:Total revenue =Total120revenue = 120Payments to labor =60Paymentsto labor = 80Payments to capital =60Paymentsto land = 40Holding the price of computersconstant, suppose the price ofsoybeans rises 10% and that the wagerate increases 5%.a. What is the effect of these changeson the rental rate of capital?b. What is the effect of these changeson the rental rate of land?