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  3. the following diagram presents a circular flow model of a...

Question: the following diagram presents a circular flow model of a...

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The following diagram presents a circular flow model of a simple economy. The outer (green) set of arrows shows the flow of money, and the inner (red) set of arrows shows the corresponding flow of inputs and outputs. Markets for Goods and Services Money Money Goods and Services Goods and Services Households Firms Factors Factors Money Factor Markets Money Based on this model, firms earn revenue when purchase in Read the following scenario and answer the questions that follow Ginny earns $750 per week working as an analyst for A-Plus Accountants. She uses $10 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Steve $240 per week to work the cash register. Steve uses $50 to purchase tax services from A-Plus Accountants. Which of the events in this scenario occur in factor markets? Check all that apply Steve spends $50 to purchase tax services from A-Plus Accountants. Ginny spends $10 to buy a box of aspirin. Steve earns $240 per week working for Pillmart Pharmacy Ginny earns $750 per week working for A-Plus Accountants. Which of the elements in this scenario represent a flow from a household to a firm? This could be a flow of money inputs, or outputs. Check all that apply Ginnys labor The $240 per week Steve earns working for Pillmart Pharmacy □ The $.50 Steve spends to purchase tax services from A-Plus Accountants □ The aspirin Ginny receives

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