Econ 104 final goffe Study guides, Class notes & Summaries
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![Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!!](/docpics/4485573/65ca46b0b0df9_4485573_121_171.jpeg)
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Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!!
- Exam (elaborations) • 12 pages • 2024
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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...
![Econ 104, Goffe, PSU 2024 Exam Graded A+ | Verified & Updated](/docpics/4485570/65ca46ade13f0_4485570_121_171.jpeg)
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Econ 104, Goffe, PSU 2024 Exam Graded A+ | Verified & Updated
- Exam (elaborations) • 13 pages • 2024 Popular
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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...
Econ 104 Final – Goffe Study Guide (100% Guaranteed Pass) Latest Update
ECON 104 GOFFE FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS!!
ECON 104 FINAL – GOFFE EXAM 2024 VERIFIED 100% CORRECT!!
Econ 104 Final – Goffe Study Guide (100% Guaranteed Pass) Latest Update.
![ECON 104 BILL GOFFE FINAL EXAM](/docpics/5149444/6630b4882db62_5149444_121_171.jpeg)
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ECON 104 BILL GOFFE FINAL EXAM
- Exam (elaborations) • 24 pages • 2024
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What is an example of creative destruction? 
iPhone replacing old flip phones 
Changes in federal funds rate influences interest rates on car loans, mortgages and student loans (T or F) 
True 
In order to grow quickly, China concentrated spending in which piece of GDP? 
Investment 
What would be the best explanation for an economy with inflation and falling spending? 
Rising oil prices (SRAS shifts left) 
What will happen to the natural rate of unemployment if a new phone app were to speed up th...
![Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!!](/docpics/4573327/65d772dcf0749_4573327_121_171.jpeg)
-
Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!!
- Exam (elaborations) • 12 pages • 2024
- Available in package deal
-
- $12.49
- + learn more
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 Exam 2024 Questions and Answers| Verified &Updated.](/docpics/5308369/664471699b9c3_5308369_121_171.jpeg)
-
Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated.
- Exam (elaborations) • 6 pages • 2024
-
- $12.99
- + learn more
Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated. 
GDP the market value of all FINAL goods and services produced in a country during a period 
of time. 
GDP equation GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net 
exports) 
Consumption expenditures made by households (excluding the purchase of a new house) 
Investment Final goods and services purchased by business firms (equipment for production 
and new buildings), changes in inventories (which is th...
![ECON 104 FINAL – GOFFE](/docpics/5149500/6630b60db67e2_5149500_121_171.jpeg)
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ECON 104 FINAL – GOFFE
- Exam (elaborations) • 9 pages • 2024
-
- $12.49
- + learn more
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 each 
 
real GDP for 2015: (103M * $50 + 11M * 20,000...
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