Answer Happy

Question 7 (4 marks) "Japan cut its economic view for the first time in four months as a surge in COVID-19 cases disrupted manufacturers' global supply chains and dampened consumer confidence. In a monthly assessment approved by the cabinet on Thursday, the government pointed to domestic and overseas virus situations as evident downside risks to the country's economic recovery." Accessed: 14/10/21 Japan's economic recovery can be aggregated and measured in terms of three major economic flows. These are: a. income, spending and saving. b. spending, production and saving. c. income, saving and production. d. income, spending and production. Question 8 (4 marks) "Consumption in Vietnam could grow by US$130 billion over the next decade as Asia continues to be the world's consumption growth engine, Vietnam News Agency (VNA) quoted a new report from McKinsey." Accessed: 14/10/21 In the simple circular flow of economic activity, goods, and services flow via: a. factor markets to goods markets. b. goods markets from households to firms. c. factor markets from firms to households. d. goods markets from firms to households.