Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods

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Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of euros for each of the following activities.

a. Sam pays a petrol station €60 for filling up his car with petrol.

b. Georgia earns €5.50 per hour working at a fast food restaurant.

c. Millie spends €7 to see a film.

d. Patrick earns €10,000 from his

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Economics

ISBN: 9781408093795

3rd Edition

Authors: Mark P. Taylor, N. Gregory Mankiw

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Question Posted: Nov 04, 2024 07:00 AM

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Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods

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Economics

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