Nominal gdp Study guides, Revision notes & Summaries
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ECS2603 Assignment 4 Semester 2 2023 (Solutions/answers)
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ECS2603 Assignment 4 Semester 2 2023 (Solutions/answers) 
 
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Which of the following statements with regards to inflation are correct? 
Inflation is defined as a sustained increase in the general price level. This implies that for inflation to occur, it is 
sufficient for only the price of oil to increase. 
Inflation is a sustained increase in the general price level. This means that there is an overall increa...
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ECS2602-TESTS-BANK
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ECS2602-TESTS-BANK. 100% CORRECT questions, answers, workings and explanations. Question 1 
Which of the following statements is/are correct? 
a) In this module we only study the demand side of the economy which includes the goods market and the financial 
market. The labour market form part of the supply side analysis and are therefore excluded from this module. 
b) The two most important accounts of the balance of payments are the current account and the financial account. 
c) If total output ...
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Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!!
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Econ 104 Final – Goffe Exam Questions and 
Answers | 100% Pass!! 
Nominal GDP -Answer-the value of final goods and services evaluated at current-year 
prices 
How to calculate nominal GDP -Answer-C + I + G +NX 
Real GDP -Answer-The value of final goods and services evaluated at base-year prices 
How to calculate real GDP -Answer-P*Q for every good in GDP and add them all 
together 
BASE YEAR 
2014 - 100M visits at $50 each 2015 - 103M visits at $53 
10M cars at $20,000 each 11M cars at $20,500...
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Econ 104, Goffe, PSU 2024 Exam Graded A+ | Verified & Updated
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Econ 104, Goffe, PSU 2024 Exam Graded A+ 
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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...
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ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS)
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ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS) 
 
Question 1 
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The distribution effects of inflation are best described by … 
a. 
the elderly benefiting at the expense of the young. 
b. 
creditors benefiting at the expense of debtors. 
c. 
borrowers benefiting at the expense of lenders. 
d. 
the poor benefiting at the expense of the rich. 
Clear my choice 
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ECN 211 EXAM 2 ASU | 60 QUESTIONS WITH 100 % CORRECT ANSWERS | VERIFIED
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GDP is - value of all final goods and services produced within a country in a given period of time. 
Y = C + I + G + NX - Y = economy's total expenditure 
C = consumption in economy 
I = imports in economy 
G = government spending 
NX = net exports 
Net exports equal - exports minus imports 
CPI is used to - monitor changes in the cost of living over time 
Inflation rate - percentage change in the price level from the previous period 
Indexation refers to - using a law or contract to automatica...
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BMC questions with correct answers 2023 updated
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BMC questions with correct answers 2023 updatedECOW - correct answer Economic data watch: finds most important data by country 
 
Essential economic indicators - correct answer Economic growth 
Inflation 
Unemployment 
Business confidence 
Housing 
 
Economic growth: gdp - correct answer Market value of all final goods and services produced in a country 
 
Broadest and most comprehensive barometer of economic activity 
 
GDP = C + I + G + (X-M) - correct answer C= personal consumption (food) 
I=...
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University of Cape Town School of Economics Macroeconomics ECO1011S QUESTIONS ONLY November Exam 2022/2023
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University of Cape Town 
School of Economics 
Macroeconomics 
ECO1011S 
November Exam 2022/2023 
1 
 
University of Cape Town 
School of Economics 
Macroeconomics 
ECO1011S 
 
November Exam 
 
INSTRUCTIONS 
 Only use PENCIL when filling in the MCQ answer sheet 
 Use the MCQ answer sheet provided 
 Complete the bubbles for your student number before you begin! 
 Write in your first name, surname and student number 
 If you change your mind about an answer don’t cross it out, use ...
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Bloomberg Market Concepts Knowledge check | Latest 2023/2024 solutions
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Bloomberg Market Concepts Knowledge check | Latest 2023/2024 solutions 
The primary of GDP --Main measure of economic activity 
8% compounded annual growth since about 1960 
In 2015, an accounting gimmick gave Ireland a 26% growth rate in GDP. what does this 
event reflect about the nature of GDP? 
-Because the GDP is official, its numbers are not subject to interpretation. 
-Governments are required to change GDP calculations every five years. 
-Inputs to GD{ are all qualitative, not quantitati...
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Econ 304 Final Exam 100% Correct!!
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Inflation (definition) -ANSWER Sustained upward movement in the aggregate price level that is shared by most products. 
 
inflation= %change in price level 
 
Output Ratio -ANSWER Ratio of actual real GDP to natural real GDP 
 
-If the ratio=100%, then price level (p) is constant 
 
-If the ratio=over 100%, then price level (p) is accelerating 
 
-If the ratio=less than 100%, then price level (p) is decelerating 
 
Types of Supply Shocks -ANSWER -Changes in business input costs 
 
-Weather ...
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