Econ 104 goffe psu fall - 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...

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 2024 Questions and Answers| Verified &Updated. GDP the market value of all FINAL goods and services produced in a country during a period of time. GDP equation GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption expenditures made by households (excluding the purchase of a new house) Investment Final goods and services purchased by business firms (equipment for production and new buildings), changes in inventories (which is th...

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 2024 Questions and Answers| Verified &Updated. GDP the market value of all FINAL goods and services produced in a country during a period of time. GDP equation GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption expenditures made by households (excluding the purchase of a new house) Investment Final goods and services purchased by business firms (equipment for production and new buildings), changes in inventories (which is th...

Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated. GDP the market value of all FINAL goods and services produced in a country during a period of time. GDP equation GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption expenditures made by households (excluding the purchase of a new house) Investment Final goods and services purchased by business firms (equipment for production and new buildings), changes in inventories (which is th...

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 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...

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...

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...