Quiz%208 - ECON 210 QUIZ 8 NAME: _ 1. Partial equilibrium...

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ECON 210 – QUIZ 8 NAME: ______________________________ 1. Partial equilibrium analysis focuses on: a. All markets being in equilibrium simultaneously b. A market-clearing price and quantity in one market while ignoring the implications on other markets c. How an equilibrium in one market can cause a disequilibrium in another market d. Markets where the price of the good doesn’t reflect the true cost of the good 2. Real GDP is : a. The total amount of final and intermediate goods produced by labor and property in an economy, over a given year. b. The current market value of final goods and services produced by labor and property located in an economy, over a given year c. The market value of the final goods and services produced by labor and property located in the economy over a given year using a constant or a base year price. d. The market value of final and intermediate goods produced by labor and property supplied by legal residents of the country, using base year prices. Information for Questions 3, 4 and 5
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This note was uploaded on 02/26/2012 for the course ECON 210 taught by Professor Staff during the Fall '08 term at Purdue.

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Quiz%208 - ECON 210 QUIZ 8 NAME: _ 1. Partial equilibrium...

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