Question

question 9 (1 point)
economists like to view the economy from both a(n)___and___perspective.
o a implicit explicit
o b profit loss
o c macroeconomics microeconomics
o d normal abnormal

question 10 (1 point)
while gross domestic product measures all the value of products produced in the country,_____includes the income produced by the domestic countrys citizens working overseas and excludes the income produced by foreign citizens.
o a gross foreign product
o b gross international product
o c gross overseas product
o d gross national product

Explanation:

For Question 9:

• Macroeconomics studies the economy as a whole (e.g., inflation, unemployment, GDP growth).
• Microeconomics focuses on individual economic units (e.g., consumers, firms, markets).
• These are the two main perspectives in economics.

For Question 10:

• Gross National Product (GNP) is calculated as \( GNP = GDP + \text{Income of domestic citizens abroad}-\text{Income of foreign citizens in domestic country}\).
• It includes domestic citizens' income abroad and excludes foreign citizens' income in the domestic country.

Answer:

Question 9: C. macroeconomics; microeconomics
Question 10: D. Gross National Product