1. The economy's income and expenditure 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 the Inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Household Marts for Factors of Production Based on this modes, households eam income when households purchase tabor and capital In markets for factors of production Suppose tuda earns $850 per week working as a corporate attorney for Rowan and Martin Associates. She uses $10 to have breakfast at Dinah's Diner. Dinah's Diner pays Ken 5475 per week to work as a short-order cook. Kenji uses $325 to purchase legal service from Rowan and Martin Associates Identity 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 Market for Goods and Event Production Services Lucia earns $850 per week working for Rowan and Martin Associates Kenji spends $325 to purchase legal service from Rowan and Martin Associates Kenji carns $475 per week working for Dinah's Diner Which of the elements of this scenario represent a flow from a household to a fem? This could be a flow of dollars, inputs, or outputs. Check all that apply The $325 Kenji spends to purchase legal service from Rowan and Martin Associates Lucia's labor The 5475 per week Kenji ears working for Dinah's Diner True or Fake: For the economy as a whole, expenditures must equat income. True Grade It Now Save & Continue Continue without saving