PSU Econ 104 Study guides, Class notes & Summaries

Technological advances generally result in correct answers increased life expectancy The total amount of physical capital available in a country is known as the country's correct answers capital stock The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as: correct answers labor productivity The fictitious country of World Campustan saw its GDP per-capita increase from $36,869 in 2017 to $37,843 in 2018. What was the growth rate in...

Scarcity correct answers Limited quantities of resources to meet unlimited wants Economics correct answers The study of the choices people make to attain their goals, given their scarce resources oppurtunity cost correct answers The highest-valued, next best alternative that must be sacrificed to obtain something or satisfy a want or to engage in an activity. Individual Behavior correct answers make ourselves as best off as possible, given scarcity Assumptions of Individual Behavior ...

PSU Econ 104 Final Exam |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

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...

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...

PSU Econ 104 Final Exam – Brown (Graded A+) If the required reserve ration is 20%, the simple deposit multiplier is _______ A. 2 B. 5 C. 10 D. 20 -Answer-B. 5 1/.2 = 5 Imagine that Kristy deposits $10,000 of currency into her checking account deposit at Bank A and the reserve ratio is 20%. As a result of Kristy's deposit, Bank A's reserves immediately increase by: A. $2,000 B. $8,000 C. $ 10,000 D. $50,000 -Answer-C. $10,000 This is how much money she puts in the bank. Imagine...

PSU Econ 104 Final Exam |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

PSU Econ 104 Final Exam – Brown University Questions with Correct Answers 100% Verified If the required reserve ration is 20%, the simple deposit multiplier is _______ A. 2 B. 5 C. 10 D. 20 B. 5 1/.2 = 5 Imagine that Kristy deposits $10,000 of currency into her checking account deposit at Bank A and the reserve ratio is 20%. As a result of Kristy's deposit, Bank A's reserves immediately increase by: A. $2,000 B. $8,000 C. $ 10,000 D. $50,000 C. $10,000 This is how much mon...

PSU Econ 104 Final Exam Questions and Answers 100% Correct 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 e...