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Let’s put a dollar amounts on the flows in the circular flow

Paper help Economics Let’s put a dollar amounts on the flows in the circular flow

Economics

Let’s put a dollar amounts on the flows in the circular flow

Let’s put a dollar amounts on the flows in the circular flow diagram of figure 2.2. a. Suppose that… Show more Let’s put a dollar amounts on the flows in the circular flow diagram of figure 2.2. a. Suppose that business buy a total of $120 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $68 billion in waged, $14 billion in rent, and $24 billion in interest, how much are households paid for providing entrepreneurial ability? b-) If households spend $ 65 billion on goods and $ 55 billion on services, how much in revenues do businesses receive in the product market? • Show less

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