ECS 1601 ASSIGNMENT 1
Johns Hopkins University
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ECS 1601 ASSIGNMENT 1
- Exam (elaborations) • 7 pages • 2021
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Closing Date : 21 August 2020
1.1 The three major flows in any economy are …
[1] income, spending and saving.
[2] income, government spending and consumption.
[3] spending, production and investment.
[4] production, income and spending.
These are the flows that are discussed in the circular flow model.
1.2 The two major markets in the circular flow of income and expenditure are the …
[1] foreign exchange market and factor market.
[2] goods market and factor market....
Exam (elaborations)
ECS 1601 ASSIGNMENT 1
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Unique number : Closing Date : 21 August 2020 1.1 The three major flows in any economy are … [1] income, spending and saving. [2] income, government spending and consumption. [3] spending, production and investment. [4] production, income and spending. These are the flows that are discussed in the circular flow model. 1.2 The two major markets in the circular flow of income and expenditure are the … [1] foreign exchange market and factor market. [2] goods market and factor market....
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