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:
Force per unit plate area is 0.1344
Solution:
As per the question:
The spacing between each wall and the plate, d = 10 mm = 0.01 m
Absolute viscosity of the liquid,
Speed, v = 35 mm/s = 0.035 m/s
Now,
Suppose the drag force that exist between each wall and plate is F and F' respectively:
Net Drag Force = F' + F''
where
= shear stress
A = Cross - sectional Area
Therefore,
Net Drag Force, F =
Also
F =
where
= dynamic coefficient of viscosity
Pressure, P =
Therefore,