Econ 104 Bill Goffe, Final Exam PSU Prep
Newest Actual Exam With Complete 100
Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+
If final sales in U.S. economy = U.S. production, what happens to inventories?
Stay the same
What was the economic growth in the U.S. over the last year?
2.1%
What is the best measure of prices in the entire economy?
The GDP deflator
How are inventories counted in GDP?
Changes in inventories are part of GDP.
What uses percent change formulas?
Economic growth and inflation for consumers
,Which is the biggest share of the CPI?
Spending on housing
Which does the Fed use the most: CPI or PCE price index?
The PCE price index
What best summarizes the most recent CPI report?
Tariffs are leading to more inflation
What do we mean by the "dual mandate"
Gives directions for monetary policy
1. Maximize employment
2. Keep prices stable
What does a bond offer an investor?
Payments in future years
During covid, federal funds rates ______ and the federal deficit ______
Fell, rose
, Capital can be an intermediate good (T or F)?
False
Is real GDP or nominal GDP larger?
Nominal GDP
Real GDP value
$24 trillion
Nominal GDP value
$30 Trillion
When would the U.S. have a trade deficit
When imports exceed exports
A skilled investor can consistently beat the stock market (T or F)?
False
Newest Actual Exam With Complete 100
Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+
If final sales in U.S. economy = U.S. production, what happens to inventories?
Stay the same
What was the economic growth in the U.S. over the last year?
2.1%
What is the best measure of prices in the entire economy?
The GDP deflator
How are inventories counted in GDP?
Changes in inventories are part of GDP.
What uses percent change formulas?
Economic growth and inflation for consumers
,Which is the biggest share of the CPI?
Spending on housing
Which does the Fed use the most: CPI or PCE price index?
The PCE price index
What best summarizes the most recent CPI report?
Tariffs are leading to more inflation
What do we mean by the "dual mandate"
Gives directions for monetary policy
1. Maximize employment
2. Keep prices stable
What does a bond offer an investor?
Payments in future years
During covid, federal funds rates ______ and the federal deficit ______
Fell, rose
, Capital can be an intermediate good (T or F)?
False
Is real GDP or nominal GDP larger?
Nominal GDP
Real GDP value
$24 trillion
Nominal GDP value
$30 Trillion
When would the U.S. have a trade deficit
When imports exceed exports
A skilled investor can consistently beat the stock market (T or F)?
False
