Homework #3
GROSS DOMESTIC PRODUCT
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1.
A real estate salesperson sells a house in 1999 that was built in 1990. How does this
transaction get counted in the G
Homework #5
ECONOMIC GROWTH AND DEVELOPMENT
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A1.
a.
b.
c.
d.
One of the factors causing the shrinking gap between rich and poor countries is
learning by poor co
HOME WORK#9
WHAT ARE EXCHANGE RATES
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1.
a.
b.
c.
d.
The exchange rate
is the ratio of two countries' GDPs.
is the rate at which one country's money is
flowin
Homework #9
COMPARATIVE ADVANTAGE
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1.
States
a.
b.
c.
d.
e.
_B_ 2.
a.
b.
c.
d.
_C_ 3.
a.
b.
c.
d.
In the past, when the United States exported more than it i
Homework #7
NATURE OF MONEY
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1.
example of
a.
b.
c.
d.
Agraria sends wheat to Cyberia in exchange for computers and technology goods. This is an
_D_
a.
b.
c.
Homework # 8
AMERICAS CENTRAL BANK THE FEDERAL RESERVE
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1. Members of the Board of Governors of the Fed are
a.
elected to two-year terms by the Electoral Col
Homework #6
CIRCULAR FLOW OF SPENDING
E
DJSDF
CIRCULAR FLOW OF SPENDING, PRODUCTION AND
INCOME
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1.
a.
b.
c.
d.
Disposable income can be defined as national p
Homework #4
GOAL OF LOW UNEMPLOYMENT
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1.
a.
b.
c.
d.
If part of the labor force is unemployed, the foregone goods and services are
lost until the unemployed
Homework #1
ECONOMIC DEFINITIONS
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C 1.
a.
b.
C
d.
e.
_A_ 2.
A
b.
c.
d.
Which of the following is the best definition of openness?
The average of imports express
Homework #2
SCARCITY AND CHOICE
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A_ 1.
A
b.
c.
d.
e.
_B_ 2.
a.
How are money cost and opportunity cost related to each other?
If markets function well, they are