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1) The circular flow diagram implies that if accounting is done correctly, the market value of the market value of A) production must exceed; expenditure B) income must exceed; production C) expenditure must equal; income D) expenditure must exceed; income 2)Step I: Go to the National Bureau of Economic Research by clicking HERE! http://admin

Economics Oct 28, 2020

1) The circular flow diagram implies that if accounting is done correctly, the market value of the market value of A) production must exceed; expenditure B) income must exceed; production C) expenditure must equal; income D) expenditure must exceed; income

2)Step I: Go to the National Bureau of Economic Research by clicking HERE! http://admin.nber.org/

Step II: on the Upper Right hand side, there is a "search the NBER site" box. Use it to answer the question below, by identifying articles that link elasticity to the topic.

  1. Is alcohol advertising impacting the price and/or demand of alcohol?

  2. How the concept of elasticity of demand is related to the commercials?

  3. You need to identify/ quote the articles in your answer.

Expert Solution

1)

Correct answer is option C. Expenditure must equal income.

The key learning from the circular flow diagram is that what some one is earning is equal to expenditure of the other person.

A circular flow diagram speaks to how merchandise, administrations, and cash travel through our economy. There are two significant entertainers known as families and firms. ... Family units at that point offer land, work, and capital (known as variables) to firms so they would then be able to create the products and ventures

2)Please use this google drive link to download the answer file.    

https://drive.google.com/file/d/1RkZiMIvTDSC3ZQN-cZ586n99Ot4bzg8m/view?usp=sharing

Note: If you have any trouble in viewing/downloading the answer from the given link, please use this below guide to understand the whole process. 

https://helpinhomework.org/blog/how-to-obtain-answer-through-google-drive-link 

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