ECS 1601 ASSIGNMENT 1

Johns Hopkins University

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Exam (elaborations)

ECS 1601 ASSIGNMENT 1
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1

7

September 2021

2021/2022

A+
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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