Economics 12E - Arnold - TB_112

Economics 12E - Arnold - TB_112 - 2 In the definition of...

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2. In the definition of GDP, the words "total market value" refer to total a. dollar value at base prices. b. dollar value at current prices. c. subjective value. d. objective value. e. a and d ANSWER: b POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Measuring the Economy KEYWORDS: Bloom's: Comprehension 3. Which of the following illustrates double counting? POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Measuring the Economy KEYWORDS: Bloom's: Application 4. The best reason economists take only final goods and services into account when calculating GDP is that POINTS: 1
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DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Measuring the Economy KEYWORDS: Bloom's: Comprehension
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  • Spring '11
  • Lee
  • Economics, gross domestic product

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