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EC 211 Study for Test 2 Questions and Answers (100% Pass)2
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If a farmer sells $10,000 worth of cereal to Kellog's, how much does that contribute to GDP? $0 Which can be considered transfer payments? The state of Florida payment of an unemployment insurance benefit If you purchase a newly constructed home, which component of GDP is this purchase in...

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  • November 10, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ec 211 study for test questions and answers 100

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  • EC 211
  • EC 211

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1|Page | © copyright 2024/2025 | Grade A+




EC 211 Study for Test Questions and
Answers (100% Pass)2
If a farmer sells $10,000 worth of cereal to Kellog's, how much does that

contribute to GDP?


✓ $0




Which can be considered transfer payments?


✓ The state of Florida payment of an unemployment insurance benefit




If you purchase a newly constructed home, which component of GDP is this

purchase included in?


✓ Investment




Nominal GDP is adjusted for inflation.


✓ False




The CPI is typically a good leading indicator of the PPI.


✓ False




A problem faced when measuring the cost of living is:

Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ The introduction of new products, quality of change, substitution bias




Banks typically advertise the...


✓ nominal interest rate




Credit cards typically advertise the...


✓ nominal interest rate




M1 Money Supply includes savings deposits but not checking deposits


✓ False




If the US wants to borrow money, it can sell bonds.


✓ True




The Federal Open Market Committee is...


✓ Part of the Federal Reserve (Central Bank)




The term double coincidence of events refers to a barter economy.


✓ True




Master01 | October, 2024/2025 | Latest update

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