ECO448 Tma Solutions
1. The prices used for eveluating goods and services are market prices, which include indirect taxes but exclude …..
consumptions
expenditure
—>> consumption subsidies
consumer subsidies
2. .. was the first to lay down a research program much followed by 20th-century economists.
Debreu
—>> Walras
Smith
Keynes
3. No transactions and no production take place at ……. prices.
equilibrium
equilibria
—>> disequilibrium
unstable
4. In a market system the prices and production of all goods, including the price of money and interest, are
—>> interrelated
the same
correlated
none of the above
5. General equilibrium theory has traditionally been classified as part of …
—>> microeconomics
macroeconomics
consumpion
demand
6. The different blocks of the SAM are made up of
intermediate consumption
production
added value
—>> all of the above
7. General equilibrium macroeconomic models usually have a simplified structure that only incorporates a few markets, a goods market and a..
money market
—>> financial market
forex market
domestic market
8. The Ãtonnement process is a model for investigating … of equilibria.
level
price
—>> stability
rules
9. In contrast, general equilibrium models in the microeconomic tradition typically involve a multitude of different …..
financial market
capital market
money market
—>> goods markets
10. In the SAM, imports are represented by payments made by ……. goods and services account to the rest of the world account.
exported
—>> imported
domestic
foreign
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