1. The real market value of the final goods and services produced in a nation during a specific period is known as:
a.. gross domestic product at constant prices
b. net domestic product at current prices
c. net domestic product at constant prices
d. gross domestic product at current prices
2. Macroeconomics is about how:
a.. merchants and consumers make their daily decisions
b. society carries out the production of goods and services with scarce resources
c. the government reduces the budget deficit with income received from taxes
d. we can increase savings by consuming fewer goods and services
3. The long-term macroeconomic is long enough for the:
a. Real GDP equals potential GDP
b. Real GNP equals potential GDP
c. Real GNP does not equal potential GDP
d. Real GDP does not equal potential GDP