PSU Econ 104 Final Exam Actual Questions and Answers 2024 Graded A+ - Brown

PSU Econ 104 Final Exam Actual Questions and Answers 2024 Graded A+ - Brown Which of the following would be an example of a microeconomic issue? Select all that apply. 1. The federal government of Sweden offers tax credits for individuals to put solar paneling on their homes. 2. Sandra takes out a loan to invest in a new business opportunity. 3. A local sandwich shop shuts down during a recession. 4. None of these are microeconomic issues. 1, 2, and 3 True or false: Macroeconomics is the study of the economy as a whole which includes topics such as unemployment, inflation, and overall production. True True or false: Microeconomics is the study of the economy as a whole which includes topics such as unemployment, inflation, and overall production False The inflation rate for a given year is measured by taking the: Percentage change in the price level from the previous year True or false: The official unemployment rate will never reach 0%. True During a recessionary period, the unemployment rate __________ and the total output and production __________. rises; falls Which of the following is not one of the three main areas of macroeconomics mentioned in this lesson? Output and Production Employment Prices Taxes Taxes The Central Bank of the United States targets a __________ inflation rate. 2% True or false: The Federal Reserve Economic Database (FRED) began in the early 1990s. True Which of the following can be done using the Federal Reserve Economic Database (FRED)? Download economic data into a spreadsheet format All of these are correct Change economic data to represent percentage change over time Access the source of where the economic data originated View economic data graphically All of these are correct An intermediate good is a good that: A good used in production of a final good or service Which of the folowing would be included in the United States GDP in 2019? A pair of jeans produced in the United States in 2019