Do you have an Energy Management System? This EMS also regulates power to the various AC units so as prevent two units from overloading the available current.
To check the output of your thermostat you will have to pull of the bottom cover on the AC unit and you will see a box that usually has all of the wires coming in to the unit. With a volt meter you can measure if the AC 120 volts is being switched off and on by the EMS, and with the meter set on the DC voltage scale, you can tell if the voltage coming from the thermostat is switching the unit off and on.