Measuring Domestic Output, and National Income
1. A nation's gross domestic product (GDP): A) is the dollar value of the total output produced within the borders of the nation. B) is the dollar value of the total output produced by its citizens, regardles
Macro Practice test 4 1. Money functions as: A) a store of value. B) a unit of account. C) a medium of exchange. D) all of the above.
2. If you are estimating your total expenses for school next semester, you are using money primarily as: A) a medium of e
Spring 2008 OCC Economics: Macroeconomics Section: Meeting: Room: Dates: Purpose of the Course:
Instructor: Ryan Keep Email: [email protected] Email: [email protected] Phone Office: 714-432-5032 Phone Home: 909-626-5964
This course is meant to be an
MACRO Practice Test 2 1. Spillover costs arise: A) when firms pay more than the opportunity cost of resources. B) when the demand curve for a product is located too far to the left. C) when firms "use" resources without being compelled to pay for their fu