Gross domestic product i - Study guides, Class notes & Summaries
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ECS1601. ASSESSMENT 1 SEMESTER 2 2023
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ECS1601-23-S2 
Online assessments 
Assessment 1 
 
QUIZ 
Assessment 1 
Started on	Saturday, 19 August 2023, 2:43 PM 
State	Finished 
Completed on	Saturday, 19 August 2023, 3:14 PM 
Time taken	30 mins 14 secs 
Marks	28.00/40.00 
Grade	70.00 out of 100.00 
Question 1 
Complete 
Mark 2.00 out of 2.00 
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Question text 
The circular flow model reveals that a decrease in South African imports will … . 
 
a. 
decrease South African imports 
 
b. 
increase ...
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Unit Quiz Reviews Questions and Answers Already Passed
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Unit Quiz Reviews Questions and 
Answers Already Passed 
 
Which of the following indicators are used to calculate Gross Domestic Product (GDP)? 
I. Imports 
 
II. Consumer Spending 
 
III. Business Spending 
 
IV. Net income from foreign residents Statements I, II and III 
 
Which of the following is NOT a non-price determinant of demand? 
 
A. Market size 
 
B. Costs of production 
 
C. Availability of credit 
 
D. Consumers' disposable income Costs of production 
 
Which of the following sta...
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Bloomberg Economics Practice Exam (2024/2025) With Verified Answers
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Bloomberg Economics Practice Exam (2024/2025) With Verified 
Answers 
Gross Domestic Product (GDP) Market value of all goods and services produced in a 
country- broadest and most comprehensive barometer of economic activity 
GDP formula C+I+G+(X-M) 
C (consumption) I (Investment-$spent by businesses) G(government spending) X (exports) 
M(imports *if you see the term net exports they have already subtracted X-M* 
Five Economic Indicators Economic growth 
Inflation 
Unemployment 
Business C...
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ECN 211 Exam 2 With 100% Correct Answers| Graded A+
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Tariff A tax on imported goods 
Who benefits/loses from free trade? 1. Foreign producers of steel (exports steel to 
US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
Who benefits from tariffs? (US steel producers example) 1. Domestic producers of 
steel (sells more at a higher price) 
Who is worse off because of the tariff? 
1. Foreign produc...
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ECN 211 Exam 2 – Marburger Questions with Correct Answers 100% Verified
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ECN 211 Exam 2 – Marburger Questions with Correct Answers 100% Verified 
Tariff - Correct Answer A tax on imported goods 
 
Who benefits/loses from free trade? - Correct Answer 1. Foreign producers of steel (exports steel to US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
 
Who benefits from tariffs? (US steel producers example) - Correc...
Too much month left at the end of the money?
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AP Microeconomics/Macroeconomics Premium, 2025: Prep Book with 4 Practice Tests + Comprehensive Review + Online Practice (Barron's AP Prep) Premium Edition;ACE IN YOUR EXAMS!!!!
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AP Microeconomics/Macroeconomics Premium, 2025: Prep Book with 4 Practice Tests + Comprehensive Review + Online Practice (Barron's AP Prep) Premium Edition 
 
Table of Contents 
How to Use This Book 
INTRODUCTION 
1 The AP Tests in Microeconomics and Macroeconomics 
Introduction 
Microeconomics, Macroeconomics, or Both? 
The Tests: What Topics Will You See? 
Multiple-Choice Questions 
Free-Response Questions 
Practice, Practice, Practice 
Microeconomics Pretest 
Pretest AP Score Estimate 
Answe...
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*NEW*Unit 1 - Exploring Business - (Whole Assignment) - DISTINCTION*Graded
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*Certified Distinction Grade Work* Contains and covers all aspect of Unit 1 Exploring Business Learning Aim A,B, and C with the highest quality: 
Contains every pass merit and distinction tasks: p1,p2,p3,p4,p5,p6,p7,m1,m2,m3,m4,m5,d1,d2,d3,d4 
I will provide a detailed analysis of the steps involved in selling coursework, including the necessary preparations, marketing strategies, and legal considerations. By going in-depth, I aim to provide a comprehensive understanding of the selling process ...
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MICROECONOMICS-KRUGMAN 3RD EDITION TESTBANK QUESTIONS AND ANSWERS
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1	 Microeconomics deals with: 
•	the working of the entire economy or large sectors of it. Incorrect 
•	economic growth. Incorrect 
•	individual decision makers in the economy. (True Answer 
)Correct 
•	gross domestic product. Incorrect 
 
2	The study of a single firm and how it determines prices would fall under the study of: 
•	macroeconomics. Incorrect 
•	microeconomics. (True Answer )Correct 
•	economic growth. Incorrect 
•	fiscal policy. Incorrect 
 
3	 Macroeconomics deal...
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Bloomberg Economics Test Questions and Answers 100% Solved
- Exam (elaborations) • 11 pages • 2024
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Bloomberg Economics Test Questions 
Questions and Answers 100% Solved 
Gross Domestic Product (GDP) ️️Market value of all goods and services produced in a 
country- broadest and most comprehensive barometer of economic activity 
GDP formula ️️C+I+G+(X-M) 
C (consumption) I (Investment-$spent by businesses) G(government spending) X (exports) 
M(imports *if you see the term net exports they have already subtracted X-M* 
Five Economic Indicators ️️Economic growth 
Inflation 
Unemplo...
-
ECN 211 Exam 2 With 100% Correct Answers| Graded A+
- Exam (elaborations) • 11 pages • 2024
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- $13.48
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Tariff A tax on imported goods 
Who benefits/loses from free trade? 1. Foreign producers of steel (exports steel to 
US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
Who benefits from tariffs? (US steel producers example) 1. Domestic producers of 
steel (sells more at a higher price) 
Who is worse off because of the tariff? 
1. Foreign produc...
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