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Author Question: In the circular flow model, which of the following items is a real flow? A. The flow of ... (Read 160 times)

olgavictoria

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on: Jun 29, 2018
In the circular flow model, which of the following items is a real flow?
 
  A. The flow of government expenditures to firms for the goods bought
  B. The flow of income from firms to households for the services of the factors of production hired
  C. The flow of U.S. borrowing from the rest of the world
  D. The flow of labor services from households to firms

Question 2

Define expected utility.
 
  What will be an ideal response?


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Andromeda18

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D Answer D is a real flow because it is a labor service.

Answer to Question 2

It represents the sum of the utilities coming from all possible outcomes of a deal, weighted by the probability of each occurring.


olgavictoria

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kjohnson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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