Deflator - Study guides, Class notes & Summaries
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BUS 218 Macroeconomics Study Guide With Complete Solution
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To judge whether or not an economy is doing well, it is useful to look at 
 
a. GDP 
b. the inflation rate 
c. the unemployment rate 
d. the trade deficit - Answer a. GDP 
 
The US Gross domestic product (GDP) is the market value of all final goods and services produced ........ in a given period of time. 
 
a. By all permanent residents and foreigners with in the border of the US 
b. by all American companies no matter where 
c. By all of the US citizens all around the world. 
d. Inside and o...
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UGBA 101b EXAM 1 REVIEW 2023/2024 verified to pass
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UGBA 101b EXAM 1 REVIEWEndogenous variables - correct answer variables that a model tries to explain 
 
Exogenous variables - correct answer autonomous factors that come from outside a theoretical model or system and that cannot be explained by the system 
 
GDP - correct answer Y = C + I + G + NX 
 
G includes - correct answer spending on goods and services: for example - purchases of trains/installation of subway rail. 
 
G excludes - correct answer transfer payments (unemployment) bc they do ...
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Inflation Questions with complete solution
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Inflation Questions with complete solution What is inflation ? - correct answer % Change in the price level 
 
What is the formula for inflation? - correct answer (Current years price level - Last years price level 
 ___________________ 
 
Last years Price Level ) *100 
 
The average level of prices are measured by ______ - correct answer Price Indices 
 
2 different price indices are ___1___ and ___2___ - correct answer 1. Consumer Price Index (CPI) 
2. GDP Deflator 
 
What does the Co...
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| LATEST EXAM UPDATES| 2024/25 |Intermediate Economics: Final Exam Multiple Choice Questions & Answers, rated A+
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Intermediate Economics: Final Exam 
Multiple Choice Questions & Answers, 
rated A+ 
The prices for which of the following goods are included in both the GDP deflator and the consumer 
price index? 
A) goods bought by households 
B) goods bought by firms 
C) goods bought by governments 
D) goods bought by foreign households (i.e. exports) 
E) all of the above - -A) goods bought by households 
2) Changes in GDP in the medium run are determined primarily by 
A) demand factors. 
B) supply factors...
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BUS 218 Macroeconomics Study Guide Correct Answers
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Which of the following is the correct definition of GDP? 
 
a. the market value of all final goods and services produced within a country in a given period of time. 
b. the market value of all final goods and - Answer a. The market value of all final goods and services produced within a country in a given period of time. 
 
To judge whether or not an economy is doing well, it is useful to look at. - Answer GDP 
 
The US Gross domestic product (GDP) is the market value of all final goods and serv...
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CFP financial planning Exam Questions with 100% Correct Answers
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6 Stages of Financial Planning - Answer-1. Establish client planner relationship. 
2. Gather data and objectives. 
3. Analyze and Evaluate financial status. 
4. Develop plan and present recommendations. 
5. Implement. 
6. Monitor. 
 
Disposable Income (DI) - Answer-PI - personal taxes 
 
GDP does not measure - Answer-Utility/usefulness 
 
Per capital output 
 
What is produced or how it is allocated 
 
Quality of output 
 
Nonpaid productive output (like people mowing their own lawns) 
 
Unrepo...
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AP Macroeconomics Exam Correct Answers New Update (Verified A+ Pass)
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AP Macroeconomics Exam Correct Answers New Update (Verified A+ Pass) 
 
 
GDP - Answers - total value of all final goods and services produced in a year within that country 
 
What is excluded from GDP? - Answers - Intermediate goods, financial transactions, private and public transfer payments, home production 
 
Expenditure Approach of GDP - Answers - GDP=C+I+G+(X-M) 
 
C= - Answers - personal consumption by household 
 
I= - Answers - investment 
 
G= - Answers - Government purchases 
 
X= - ...
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Econ 202 Exam 1 Questions with Complete Correct Answers | Grade A+
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Y is 
Ans: GDP 
C is 
Ans: consumption 
I is 
Ans: investment 
G is 
Ans: Government expenditure 
NX is 
Ans: net export 
NX equals 
Ans: export - import (NX = X-M) 
GDP Equation 
Ans: Y = C + I + G + NX 
Value added approach GDP 
Ans: market value of all final goods and services produced within a country in a given period 
of time (FINAL MARKET VALUE is the orange juice itself, NOT the oranges and 
ingredients that make it) 
Inventory - goods produced to be sold are 
Ans: investments 
Nominal...
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Econ 104 Final – Goffe Exam with Verified Solutions 2024 Update
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Econ 104 Final – Goffe Exam with Verified 
Solutions 2024 Update 
Nominal GDP - Answer -the value of final goods and services evaluated at current-year prices 
How to calculate nominal GDP - Answer -C + I + G +NX 
Real GDP - Answer -The value of final goods and services evaluated at base-year prices 
How to calculate real GDP - Answer -P*Q for every good in GDP and add them all together 
BASE YEAR 
2014 - 100M visits at $50 each 2015 - 103M visits at $53 
10M cars at $20,000 each 11M cars at $...
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Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated.
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Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated. 
GDP the market value of all FINAL goods and services produced in a country during a period 
of time. 
GDP equation GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net 
exports) 
Consumption expenditures made by households (excluding the purchase of a new house) 
Investment Final goods and services purchased by business firms (equipment for production 
and new buildings), changes in inventories (which is th...
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