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ECO 372 FINAL EXAM / ECO372 FINAL EXAM: GRADED A | 100% CORRECT
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ECO 372 FINAL EXAM / ECO372 FINAL EXAM: GRADED A | 100% CORRECT
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ECO 372 FINAL EXAM1
The Marions purchased a Persian rug worth $5,000 from an Iranian textile mill.
Everything else remaining unchanged, this will:
decrease the net imports of the domestic country by $5,000.
decrease the consumption expenditure in the domestic country by $5,000.
reduce the net exports of the domestic country by $5,000.
increase the gross domestic product of the domestic country by $5,000.
2
The table given below shows the total amount of spending in the country of
Mesodonia. Mesodonia’s gross domestic product
is:
$5,660 million.
, $4,560 million.
$4,160 million.
$4,710 million.
3
The circular-flow diagram shows that:
firms receive wages and profits from households in the products market.
households sell the factors of production to firms in the inputs market.
households supply resources to firms in the products market.
firms supply labor and other resources to the government in the factor market.
4
Martha lends $200 to a friend who promises to return it after a year. Instead of
lending it to her friend, Martha could have put the money in a bank where she
could have earned an interest rate of 2 percent per annum. Martha’s opportunity
cost of lending the money is _____.
$204
$200
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