Econ 104 goffe - Study guides, Class notes & Summaries

Which would be the best example of capital? - a tractor owned by a farmer - a house owned by a family - GM purchasing a robot for a car factory - stock traded on Wall Street -a tractor owned by a farmer Which would be the best example of a final good or service? - a homeowner painting their house - electricity purchased by Amazon - seeds purchased by a farmer - gasoline purchased by a family -gasoline purchased by a family

ECON 104 BILLE GOFFE FINAL EXAM LATEST 2024 ACTUAL – EXAM WITH 250 + QUESTIONS AND ANSWERS GOOD GRADE GUARANTEED ALREADYIAGRADE

Econ 104 Goffe PSU Exam Questions And Answers 100% Verified Economic growth in the 2nd quarter of this year was about_____. a. 1% b. 2% c. 3% d. 4% - answer4% How does capital show up in GDP? a. as something owned by households b. as something owned by firms c. as something purchased by households d. as something produced by firms - answeras something produced by firms T or F: Every time the government writes a check that expense shows up in GDP. a. True b. False - answerFalse Sin...

If the core CPI was increasing faster than the headline (or regular) CPI, then what is most likely happening? gas prices are rising gas prices are falling the GDP deflator is rising the GDP deflator is falling -gas prices are falling

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ECON 104 GOFFE FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS!!

useholds d. as something produced by firms - answeras something produced by firms T or F: Every time the government writes a check that expense shows up in GDP. a. True b. False - answerFalse Since 1970, real GDP_____. a. decreased most years b. decreased some years c. never decreased - answerdecreased some years Taxes were recently _____ and this _____ economic growth. a. increased, speeded b. increased, slowed c. cut, speeded d. cut, slowed - answercut, speeded Say that instead o...

Firms sell goods and services to which three groups? -1. Domestic households 2. Foreign firms and households 3. The Government Capital -Manufactured goods owned by firms to produce other goods and services What four categories is income divided into? -Wages, Interest, Rent, and Profit Transfer Payments -Government payments to households such as social security and unemployment. These are not apart of GDP. Percent of GDP for C, I, G, NX -C- 69% I- 16% G- 18% NX- -3%

Econ 104, Goffe, PSU Exam Questions And Answers 100% Verified GDP - answerthe market value of all FINAL goods and services produced in a country during a period of time. GDP equation - answerGDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption - answerexpenditures made by households (excluding the purchase of a new house) Investment - answerFinal goods and services purchased by business firms (equipment for production and new buildings), changes in i...

Economic growth in the 2nd quarter of this year was about_____. a. 1% b. 2% c. 3% d. 4% -4% How does capital show up in GDP? a. as something owned by households b. as something owned by firms c. as something purchased by households d. as something produced by firms -as something produced by firms