Q#3:(A)Supose we extend the circular flow mode to add imports and export copy the circular flow digram onto a sheet paper and th
en add a foreign country as athird agent.Draw a through sketch of the flows of imports exports and the payment for each on your digrams?
1 answer:
Answer & Explanation:
Circular Flow model denotes how goods & services, factor incomes & prices move within sectors of economy.
A closed economy has two sectors - households & firms, having following features of circular flow between them:
- Households provide factor services to firms , & get factor payments from firms in return
- Firms provide goods & services to households, & get prices for households in return
In case of open economy - with rest of world & foreign country, exports & imports also come in circular flow.
- Firms export to foreign ROW, receive export payments from them.
- Households, firms import from foreign ROW, pay their import payments to them.
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Answer:
a)
b)
c)
d)
Explanation:
Non horizontal pipe diameter, d = 25 cm = 0.25 m
Radius, r = 0.25/2 = 0.125 m
Entry temperature, T₁ = 304 + 273 = 577 K
Exit temperature, T₂ = 284 + 273 = 557 K
Ambient temperature,
Pipe length, L = 10 m
Area, A = 2πrL
A = 2π * 0.125 * 10
A = 7.855 m²
Mass flow rate,
Rate of heat transfer,
a) To calculate the convection coefficient relationship for heat transfer by convection:
Note that we cannot calculate the heat loss by the pipe to the environment without first calculating the surface temperature of the pipe.
c) The surface temperature of the pipe:
Smear coefficient of the pipe,
b) Heat loss from the pipe to the environment:
d) The required fan control power is 25.125 W as calculated earlier above