Based on this model firms earn revenue when firms househol

Based on this model, firms earn revenue when ( firms , household) purchase (good and services, labour and capital) in markets for goods and services.

what is the corrct choses in the tables and what should i check in the question after. Also , is it false or true

Thank you pleas help

MindTap-C ngcengage.com/static/nb/ui/index.html?nbId=719368&nbNodeld;=270948504&deploymentld-4731; 282193391 5703062648569&eISBN;:9781285853482#!&parentld;=270948570 engage Leaming- Google Chrome 5% MINDTAP Mazen Alzahrani (? Fromm Cengage Aplia Homework: Measuring a Nation\'s Income Due Today at 11:59 PMEST 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. 5 Markets for Goods and Services Firms Markets for Factors of Production Based on this model, firms earn revenue when firms purchase in markets for goods and services. Suppose Valerie earns $650 pe k orking as work as a flight attendant for Flyaway Airlines. She uses $9 to buy a box of aspirin at Pillmart A-Z 7:01 PM Type here to search ^41) ENG 1/28/2018 |

Solution

Based on this model, firm earn revenue when households purchase goods and services in goods and services market.

In the product market, goods and services are bought by households and sold by firms.

In the resource market, labor is supplied by households and purchased by firms.

$650 Valerie earns per week working for Flyaway airlines - Market for factors of production, since this is a resource market.

Shen earns $200 per week working for Phillmart Pharmacy- Market for factors of production, since this is a resource market.

The $250 Shen spends on air travel to Hawaii from Flyaway airlines- Market for goods and services, since a service has been bought.

The $250 Shen spends on air travel to Hawaii from Flyaway airlines is a flow of dollars from households to firms.

Shen earns $200 per week working for Phillmart Pharmacy is a flow of dollars from firms to households

Valerie\'s labor is a flow of dollars from firms to households.

False, GDP is the total income earned during a given period.