Econ 104 goffe psu - Study guides, Class notes & Summaries

Econ 104, Goffe, PSU 2024 Exam Graded A+ | Verified & Updated GDP -Answer-the market value of all FINAL goods and services produced in a country during a period of time. GDP equation -Answer-GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption -Answer-expenditures made by households (excluding the purchase of a new house) Investment -Answer-Final 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% - Answer- 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 - Answer- as something produced by firms T or F: Every time the government writes a check that expense shows up in GDP. a. True b. False - Answer- False Since 1970, real GDP_____. a. decreased most...

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...

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...

Economic growth in the 2nd quarter of this year was about_____. a. 1% b. 2% c. 3% d. 4% correct answers 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 correct answers as something produced by firms T or F: Every time the government writes a check that expense shows up in GDP. a. True b. False correct answers False Since 1970, real GDP_____. ...

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...

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...

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 2024

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