ch7 126-128 class exercise
1. Between 1950 and 2002, U.S. real GDP grew at an average annual rate of about:
A. 1.3 percent.
B. 3.4 percent.
C. 5.1 percent.
D. 8.6 percent.
2. Between 1950 and 2005, U.S. real GDP per capita grew at an average an
Sample Exam #1
1. For economists, the word "utility" means:
A) versatility and flexibility.
C) pleasure and satisfaction.
2. The economic perspective refers to:
A) macroeconomic phenomena, but not microeconomic phenomena
AP Macro Economics
Measuring Domestic Output, National Income, & the Price Level
Directions; use the information in the textbook to answer the following questions.
Suppose the total market value of all final goods and services produced in