Chapter 2 Thinking Like an Economist

Figure 2-1

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100. Refer to Figure 2-1. Which arrow represents the flow of goods and services?

a.

A

b.

B

c.

C

d.

D

101. Refer to Figure 2-1. Which arrow represents the flow of spending by households?

a.

A

b.

B

c.

C

d.

D

102. Refer to Figure 2-1. Which arrow represents the flow of land, labor, and capital?

a.

A

b.

B

c.

C

d.

D

103. Refer to Figure 2-1. Which arrow represents the flow of income payments?

a.

A

b.

B

c.

C

d.

D

104. Refer to Figure 2-1. Ali buys a new pair of shoes at a shoe store. To which of the arrows does this transaction directly contribute?

a.

A only

b.

A and B

c.

C only

d.

C and D

105. Refer to Figure 2-1. Sonia completes her first week of employment working as a hairdresser at a salon. On Friday of that week, she receives her first paycheck. To which of the arrows does this transaction directly contribute?

a.

B only

b.

A and B

c.

C only

d.

C and D

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