Professional Documents
Culture Documents
TRUE/FALSE
2. Someone who studies the pricing policies of the Microsoft Corporation would be a microeconomist.
5. Abstract terms like "cost of living" and "price level" are meaningless to ordinary individuals.
8. From 2000 to 2001, the U.S. economy's annual growth rate slowed down abruptly.
188
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated,
or posted to a publicly accessible website, in whole or in part.
9. Individuals live and work in both individual and aggregate economic entities.
10. Two of the most important macroeconomic issues are unemployment and inflation.
12. Supply and demand provides the basic explanatory framework for constructing both microeconomic and
macroeconomic models.
13. In macroeconomics, the vertical axis in a supply-demand model measures the price level rather than a
particular product's price.
14. If aggregate demand keeps shifting rightward month after month and aggregate supply remains constant,
the economy will experience a recession.
15. Gross Domestic Product represents the money value of all final goods and services produced in the
domestic economy within the year.
16. Nominal GDP includes the current value of services produced in the economy.
189
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated,
or posted to a publicly accessible website, in whole or in part.
ANS: T PTS: 1 DIF: Easy NAT: Analytic
LOC: The Study of economics, and definitions in economics TOP: Gross Domestic Product
17. Real GDP values current output of goods and services at their current prices.
18. GDP in 2011 would not include the resale of a house built in 2000.
19. Gross Domestic Product includes the sale of intermediate goods and services.
21. Cars produced by General Motors in Mexico would be included in U.S. Gross Domestic Product.
22. When the Art Institute of Chicago purchases a painting by Mary Cassatt that she produced in Paris in
1885, this would not be included in the U.S. GDP for 2011.
23. Illegal gambling on the NCAA Final Four would be included in GDP.
24. GDP consistently measures the output of goods and services in all countries.
25. The existence of the "underground economy" causes measured GDP to overestimate actual output.
190
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated,
or posted to a publicly accessible website, in whole or in part.
Another random document with
no related content on Scribd:
MACGILL, H M . b. Catrine, Ayrshire 1807; ed. at
Mauchline, entered Glasgow univ. 1827 and divinity hall of united
secession church 1831; minister of Duke st. church, Glasgow, Feb.
1837 to 1840; separated from Duke st. 1840 and formed the
Montrose st. church 1840, minister to 1858; home mission secretary
of united presbyterian church 1858 and foreign mission secretary
1868 to death; D.D. Glasgow 1870; edited The juvenile missionary
magazine 1845; edited The missionary record; author of The life of
Hugh Heugh 2 vols. 1850, 2 ed. 1852; Songs of the christian creed
and life 1876. d. in Miss de Broen’s villa, Belleville, Paris 3 June
1880. bur. Glasgow necropolis 11 June. C. H. Macgill’s Memories
of Dr. H. Macgill (1880), portrait; J. Smith’s Our Scottish Clergy
(1848) 67–71.
M’GILL, J . b. 1795; minister of Reformed presbyterian ch.; author
of The four centuries or christianity and the military profession.
Glasgow 1857. d. Bournemouth, Oct. 1883.
M’GILL, J . Professor of Hebrew and oriental languages at college of
St. Mary, univ. of St. Andrews 1868 to death, inducted 21 Nov.
1868; member of Bible revision committee 1870. d. St. Andrews 16
March 1871.
MACGILLIVRAY, C R. (son of a small farmer). b. Kilfinichen,
Mull about 1804; employed in a druggist’s shop, Glasgow about
1824–49; a druggist at Glasgow 1849; M.D. Glasgow 1853; lecturer
in Gaelic at Glasgow Institution 1859; author of The rudiments of
the Gaelic language 1858; Turus a’ Chriosduidh 1869. d. Glasgow 7
June 1867.
MACGILLIVRAY, J (eld. child of William Macgillivray 1796–
1852). b. Aberdeen 18 Dec. 1822; naturalist on board the Fly in the
Torres Straits and Eastern Archipelago 1842–6; naturalist on board
the Rattlesnake 1846–50; naturalist on board the Herald on the coast
of South America 1852–5; collected natural history specimens in
the Australasian islands 1855–67; author of Narrative of the voyage
of H.M.S. Rattlesnake 1846–50, to which is added an account of E.
B. Kennedy’s exploration of the Cape York peninsula 2 vols. 1852.
d. Sydney 6 June 1867. Good Words (1868) 425–9, portrait.
MACGILLIVRAY, W . b. Old Aberdeen 25 Jany. 1796; art student
at King’s college, Aberdeen 1808, M.A. Aberdeen 1815, LL.D.
1844; assistant and secretary to regius professor of natural history
and regius keeper of the museum of univ. of Edinb. 1823;
conservator of museum of royal college of surgeons in Edinb. 1831
to March 1841; professor of natural history in Marischal college and
univ. of Aberdeen, March 1841 to death; edited the Edinburgh
journal of natural history and of physical science Oct. 1835 to May
1840; author of A history of British birds 5 vols. 1837–52; Manuals
of botany, ornithology and geology 3 vols. 1840; A history of the
molluscous animals of Aberdeen, Kincardine and Banff 1843; The
natural history of Dee Side and Braemar 1855. d. Aberdeen 4 Sep.
1852. J. A. Harvie-Brown and T. E. Buckley’s Vertebrate Fauna of
the Hebrides (1888), portrait on page 11.
M’GILVRAY, W. b. island of Islay, Scotland; assist. minister New Ch.
Dumfries 1834; minister at St. Mark’s, Glasgow 1835 and at Hope
st. Gaelic ch. Glasgow, June 1842 to Sep. 1846; a member of the
Disruption assembly 1843; Gaelic minister in Glengarry district,
Canada 1846–8; wrecked in the Great Britain in Dundrum bay 22
Sep. 1846; again minister of St. Mark’s, Glasgow 1848; D.D.
Lafayette coll. U.S. America 1847. J. Smith’s Our Scottish Clergy
(1849) 230–7; H. Scott’s Fasti, ii pt. i 44 (1868).
M’GLASHAN, J . Assistant in house of Blackwood and Sons,
publishers, Edinburgh; publisher in Dublin with Wm. Curry, junior
1830–46, alone 1846–55 when he retired; proprietor of Dublin
university magazine 1833–55, presented with a service of plate on
twentieth anniversary of the magazine; the principal publisher in
Dublin to 1855. d. of mental disease, Edinburgh 4 March 1858.
Bookseller, March 1858 p. 108; Fitzpatrick’s Life of Charles Lever
2 vols. (1879), passim.
MC GLASHAN, J . Solicitor in Edinburgh; member of Society of
solicitors-at-law 1824; a solicitor before the supreme court from
1831; went to New Zealand about 1855; author of Practical notes on
the act of Sederunt 1831; The law and practice in actions of Aliment
1837; Practical notes on the jurisdiction in the sheriff courts of
Scotland 1842, 4 ed. 1868; Digest of the laws relating to
pawnbrokers 1844, 2 ed. 1847. d. New Zealand 1866.
MACGLASHAN, J (1 son of John Macglashan). b. Peterborough 5
Sep. 1842; articled to Bell and Miller, engineers, Westminster and
Glasgow; assist. resident at Albert docks, Greenock; resident
engineer of graining docks at Partick; in charge of works between
Hurda and Sohagpore on Great Indian peninsula railway 1865–8;
assist. resident engineer on the Nagpore extension 1869–76, then on
the Sholapore and Raichore portion 1876; had special thanks of
directors for his exertions during water famine in 1878; had sole
charge of the Dond and Munmar line 1881–3; A.I.C.E. 23 Sep.
1875. d. Aboyne, Deeside, Scotland 23 Sep. 1884. Min. of Proc.
I.C.E. lxxx 338–40 (1885).
MC GOUGAN, E M . b. 1828; in general post office,
London to 1853; attendant in British museum library 1853–92; a
great friend of the costermongers of London, and of institutions for
the blind in north of London. d. St. Albans 21 July 1893. Civil
Service prayer union Oct. 1893 p. 3.
MACGOWAN, E , M.D.; practised at Exeter; physician to the
mission of London Society for promoting Christianity among the
Jews 1841; arrived at Jerusalem 21 Jany. 1842. d. Jerusalem 6 Feb.
1860 aged 65. W. H. Hunt’s Jerusalem. Bishop Gobat in re Hanna
Hadoub (1858) 22 etc.
M’GRATH, H W (3 son of Nicholas M’Grath of Dublin). b.
Dublin 1803; ed. at Trin. coll. Dublin, B.A. 1825, M.A. 1830;
deacon 1829; P.C. of Walton le Dale near Preston 1832–7; R. of St.
Ann’s, Manchester, Aug. 1837 to 1852; R. of St. Paul’s, Kersal
Moor 29 May 1852 when the church was consecrated to 1865; hon.
canon of Manchester 1858 to death; built a house called Ditton at
Torquay about 1878, lived there 1878 to death; author of The
sacraments practically rejected by Unitarians, in Unitarianism
confuted (1839) 593–646. d. Ditton, Lower Warberry road, Torquay
about 17 July 1884. C. W. Bardsley’s Memorials of St. Ann’s church
(1877) 17, 20; J. Evans’s Lancashire authors and orators (1850)
174–78.
MAC GREGOR, A T . b. 1799 or 1800; lieut. R.N. 22 Oct.
1823; captain 8 Aug. 1857, retired 7 March 1868; retired admiral 7
April 1885. d. Ardmore, Cheltenham 21 Dec. 1886.
MACGREGOR, S C M (2 son of Robert Guthrie
Macgregor). b. Agra 12 Aug. 1840; ed. at Marlborough 1853–5;
ensign 57 Bengal N.I. 5 Jany. 1857; commanded a squadron of
Hodson’s horse in Indian mutiny Aug. 1858, second in command
1861–4; served in Fane’s horse through Chinese campaign 1860;
served in the Afghan war 1878–80; assist. deputy quartermaster
general in India 1865–7 and in Abyssinia 1867–8; commanded the
Punjab frontier force 28 Nov. 1885 to death; major general 22 Jany.
1887; author of Mountain warfare, an essay 2 ed. 1866; A military
report on the country of Bhutan 1873; Narrative of a journey
through the province of Khorassan 2 vols. 1879; Wanderings in
Balochistan 1882; compiled History of the Second Afghan war 6
vols. 1885–6, suppressed by Indian government; The defence of
India 1884, suppressed by the government; C.S.I. 31 Dec. 1875;
C.I.E. 1 Jany. 1878; C.B. 1879; K.C.B. 17 Jany. 1881; compiled the
Gazetteer of Central Asia 1868 which occupied him 5 years. d.
Shepheard’s hotel, Cairo 5 Feb. 1887. bur. Glengyle on shores of
Loch Katrine. The life of Sir C. M. Macgregor. Ed. by Lady
Macgregor 2 vols. (1883), portrait.
MC GREGOR, S D . b. 16 March 1787; ensign or lieut. 72 foot
31 Aug. 1801; captain 78 foot 17 April 1804, major 25 Nov. 1813,
placed on h.p. 25 April 1816; major 31 foot 29 Jany. 1824, placed
on h.p. 26 May 1825; lieut.-col. 93 foot 23 March 1826, placed on
h.p. 27 July 1838; served in Sicily and Italy 1806, in Egypt 1807
and in the Peninsula 1813–4; lieut.-col. 93 foot 23 March 1826 to
27 July 1838 when placed on h.p.; inspector general of constabulary
force, Ireland 1838–58; general 28 Oct. 1864; K.C.B. 28 Dec. 1848
for his services in Ireland; retired from the army Oct. 1877; author
of A narrative of the loss of the Kent. By A Passenger 1825, 7 ed.
1860. d. 2 Vanbrugh park, Blackheath, Kent 8 June 1881.
N .—While major of 31 regt. on board the Kent East Indiaman, she took fire 1 March 1825
in the Bay of Biscay, and he was instrumental in saving the lives of the passengers.