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Question: The following diagram presents a circular-flow mod 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. Based on this model, households earn income when purchase_ in factor markets. Suppose Cho earns $525 per week working as work as a flight attendant for Flyaway Airlines. She uses $10 to order a mojito cocktail at Little Havana. Little Havana pays Bob $300 per week to wait tables. Bob uses $125 to purchase air travel to Hawaii from Flyaway Airlines. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Product Market Market Bob earns $300 per week working for Little Havana. Cho earns $525 per week working for Flyaway Airlines. Bob spends $125 to purchase air travel to Hawaii from Flyaway Airlines. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The mojito Cho receives The $125 Bob spends to purchase air travel to Hawaii from Flyaway Airlines The $300 per week Bob earns working for Little Havana Cho's labor Expert Answer ch O w e