ECON 104 Samenvattingen, Notities en Examens
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Econ 104 Goffe PSU Exam Questions And Answers 100% Verified
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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...
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Econ 104, Goffe, PSU Exam Questions And Answers 100% Verified
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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...
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Econ 104 Final Exam Questions And Answers (Verified And Updated)
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Econ 104 Final Exam Questions And 
Answers (Verified And Updated) 
Nominal GDP - answerthe value of final goods and services evaluated at current-year prices 
How to calculate nominal GDP - answerC + I + G +NX 
Real GDP - answerThe value of final goods and services evaluated at base-year prices 
How to calculate real GDP - answerP*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 ea...
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