CHAPTER 2 - CHAPTER REVIEW - PROBLEMS AND APPLICATIONS
#1 Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities.

a. Selena pays a storekeeper $1 for a quart of milk.
b. Stuart earns $8 per hour working at a fast-food restaurant.
c. Shanna spends $40 to get a haircut.
d. Salma earns $20,000 from her 10 percent ownership of Acme Industrial.