2025 ECO 202 FINAL EXAM WITH ACTUAL
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+
Firms in a small economy planned that inventories would grow over the past year
by $300,000. Over that year, inventories actually grew by $250,000. This implies
that - ANSWERS-aggregate expenditure that year was more than GDP that year.
OR
there was an unplanned decrease in inventories that year.
Which of the following criteria would make gold a poor medium of exchange? -
ANSWERS-Its value depends on its purity, and its purity is not easy to visibly
identify.
If whole tomatoes were money, which of the following functions of money would
be hardest for tomatoes to satisfy? - ANSWERS-Store of value
Figure 13-3. Which of the points in the above graph are possible long-run
equilibria? - ANSWERS-A and C
, The nominal interest rate will be less than real interest rate when - ANSWERS-the
rate of inflation is negative
Which of the following is likely to increase measured GDP? - ANSWERS-Marijuana
becomes legal to grow and sell
"Household production" refers to - ANSWERS-goods and services people produce
for themselves
Table 8-11. Consider the following data for Tyrovia, a country that produces only
two products: guns and butter.
Real GDP for Tyrovia for 2013 using 2005 at the base year equals - ANSWERS-$690
The purchase by a household in China of a CD produced in the United States is
included in US - ANSWERS-Net exports
Refer to Table 8-3. Consider the data above (in billions of dollars) for an economy:
Gross domestic product (in billions of dollars) for this economy equals -
ANSWERS-$1,100
The demand for loanable funds is downward sloping because the _________ the
interest rate, the ________ the number of profitable investment projects a firm
can undertake, and the ________ the quantity demanded of loanable funds. -
ANSWERS-lower, greater, greater
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