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bmh12e bmh12e
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A year ago

Figure 1-9 shows the circular flow of income.

Short description: A cyclic diagram shows four blocks: empty block (top), firms (producers), empty block (bottom), and individuals (consumers). Long description: An arrow from the block at the top points to firms. An arrow from firms points to the block at the bottom. An arrow labelled

FIGURE 1-9

Refer to Figure 1-9. In the circular flow of income "Payments for A" represents ________; "Payments for B" represents ________.



▸ "Payments for factor services"; "Employment Insurance"

▸ "Payments for goods and services"; "Taxation and Insurance claims"

▸ "Government Transfer payments"; "Payments for goods and services"

▸ "Payments for goods and services"; "Payments for factor services"

▸ "Payments for factor services"; "Payments for goods and services"
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Microeconomics

Microeconomics


Edition: 17th
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sania24sania24
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A year ago
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