ECO102 principles of Macroeconomics –Tutorial questions (ECO102)

1. When a firm sells a good or a service, the sale contributes to the nation’s income a. only if the buyer of the good or service is a household. b. only if the buyer of the good or service is a household or another firm. c. whether the buyer of the good or a service is a household, another firm, or the government. d. We have to know whether the item being sold is a good or a service in order to answer the question. 2. Estimates of the values of which of the following non-market goods or servi...