Real vs nominal gdp Study guides, Class notes & Summaries

UGBA 101b EXAM 1 REVIEWEndogenous variables - correct answer variables that a model tries to explain Exogenous variables - correct answer autonomous factors that come from outside a theoretical model or system and that cannot be explained by the system GDP - correct answer Y = C + I + G + NX G includes - correct answer spending on goods and services: for example - purchases of trains/installation of subway rail. G excludes - correct answer transfer payments (unemployment) bc they do ...

Exam #1 Review Questions (answers) ECNS 303 1.) Exogenous vs. Endogenous variables Consider a potential criminal. The individual maximizes his or her utility by choosing how much labor to supply towards legitimate work opportunities (Lw) and how much labor to supply towards crime (Lc). In doing so, this person can earn a wage w in the legal labor market and a return to crime n in the illegal labor market. In the illegal labor market, the potential criminal faces costs of punishment...

Bloomberg Market Concepts Test with Questions and Answers gross domestic product (GDP) ANSWER market value of all final goods and services produced within a country GDP = C + I + G + (X-M) C= personal consumption I = private investment G = government spending X = exports M = imports (C = 2/3 of US GDP) provides backdrop for investing bc is a measure of all economic activity "actual GDP growth has entirely lost its capacity to surprise... leading indicators... PMI garners di...

federal expenditures correct answers $4008 billion (21%) GDP federal taxes correct answers $3315 billion (17.3% GDP) deficit correct answers $693 billion (3.7% GDP) federal debt correct answers 14.6 trillion (77% GDP) interest payments on the federal debt correct answers $269 billion (1.4% of GDP) federal funds rate correct answers 1.25% nominal GDP correct answers $19.2 tillion real GDP correct answers 17 tillion economic growth over the last 12 months correct answers 2....

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CFA Level 1 Economics 241 Questions with Answers 2023 Price Elasticity of Demand Formula - CORRECT ANSWER (% Change in Quantity Demanded) / (%t Change in Price) Cross Elasticity of Demand Formula - CORRECT ANSWER (% Change in Quantity Demanded) / (% Change in Price of Substitute or Complement) Income Elasticity of Demand Formula - CORRECT ANSWER (% Change in Quantity Demanded) / (% Change in Income) Price Elasticity of Supply Formula - CORRECT ANSWER (% Change in Quantity Supplied)...

business cycleAlternating periods of economic expansion and economic recession (components trough recession peak recovery- a business cycle is the cycle of the economy which includes recessions, troughs, recoverys, and peaks.) Real vs. Nominal GDPreal GDP is GDP adjusted for inflation, while nominal GDP is just nominal and is not adjusted for inflation. Total final value of goods and services produced in a year (Gross Domestic Product) SeasonalityA repeated pattern of spikes or drops i...

CFA Level 2: Econ Exam 115 Questions with Answers This econ topic regards the relationship between exchange rates and interest rates - CORRECT ANSWER ..... When is interbank FX market for most currency pairs typically most liquid? - CORRECT ANSWER 8am-11am New York Time ^because the London and New York (two largest FX trading centers) overlap during these times making it the most liquid during these hours. Arbitrage Constraints on Spot Exchange Rate Quotes - CORRECT ANSWER 1. the b...

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Study Outline for Econ S10b Midterm Exam Harvard University, Summer School Note: The assigned readings are potential sources for exam questions. I will NOT ask narrow factual questions about these readings, but you should be able to relate their main arguments to the material we have discussed in class. Note: The following outline does NOT cover everything we have studied in the class. All concepts and applications that we have discussed in class are possible exam topics. Good items to st...