Testmoz
Home
Features
Pricing
FAQs
Build a Test
Login/Sign Up

Chapter 16 & 18

Is this your test? Login to manage it. If not, you can create an exam just like it.

This is a non-interactive preview of the quiz content.

1.
7 points
Gross domestic product (GDP) is the measure that corresponds to value added when foreign markets purchase domestic products from the United States.
2.
7 points
Total wealth comprises:
The value of his nonhuman wealth, or the sum of financial wealth and housing wealth.
The value of his human wealth, or the present value of expected after-tax labor income.
3.
7 points
If the price of a Cadillac in the US is $40,000, and a dollar is worth 0.50 pounds, then the price of a Cadillac in pounds is _______________.
4.
7 points
Another name for life cycle theory of consumption is ______________.

5.
7 points
The sum of Human wealth and nonhuman wealth ________________.
6.
7 points
The ability of firms to choose where to locate production, and workers to choose where to work. The North American Free Trade Agreement (NAFTA) is an example of this openness. This is the openness of ____________.
7.
7 points
Experiments that economists cannot control, but occur naturally are called nature experiments.
8.
7 points
The after-tax labor income and the present value of expected after-tax income one is likely to earn throughout one's life _____________________ .
9.
7 points
The value of the house one owns minus the mortgage still due is ______________.
10.
7 points
The exchange rate is a factor is deciding against domestic or imports.
11.
7 points
The theory of consumption was developed by Milton Friedman in the 1950s, who called it the permanent income theory of consumption.
12.
7 points
This dimension of openness includes free trade restrictions such as tariffs and quotas--this is _______________.
13.
7 points
Tradable goods are goods that compete with foreign goods in either domestic markets or foreign markets.
14.
7 points
The value of the stocks and bonds and the value of checking and savings accounts one owns is _______________________.
Home Features Pricing FAQs Legal Sample Tests Build a Test Login/Sign Up