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ECON 104 BILL GOFFE FINAL EXAM LATEST 2026 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
Which of the following items would be in GDP?
the value of pollution emitted from a factory
the building that a company has used for its headquarters for a
decade
a household purchasing tax advice from an accountant
a single person cleaning their own clothes - ANSWER-a
household purchasing tax advice from an accountant
How is leisure counted in GDP?
a consumption
as investment
it is not counted in GDP
as an intermediate good - ANSWER-it is not counted in GDP
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The best example of a capital good would be ___.
the generator in a power plant that makes electricity
a new lawn mower owned by Mr. Goffe
aluminum that is transformed into an airplane
funds that a company borrows from a bank - ANSWER-the
generator in a power plant that makes electricity
Which of the following items would NOT be in U.S. GDP this
quarter?
a dress produced and sold in Dallas, Texas this month
a crane that was produced and sold as new two years ago that
was in turn resold last month
a plane produced by Boeing this month that was sold in Europe to
Air France
a just-completed new home is sold to a household - ANSWER-a
crane that was produced and sold as new two years ago that was
in turn resold last month
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A report on GDP says that income fell. Then spending measured
by GDP __.
might have risen
must have risen
might have fallen
must have fallen - ANSWER-must have fallen
For the sake of this question, say that total inventories in the U.S.
was $1 trillion in one year and then $1 trillion the next year. Would
there be any inventory investment?
yes
no
cannot tell with the given information - ANSWER-no
A basic difference between a capital good and an intermediate
good is that an intermediate good is used up or transformed in the
production process while a capital good is not.
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true
false - ANSWER-true
Is this the correct definition of GDP when measured by
production? "GDP for a nation's economy is all goods and
services produced domestically in a year."
yes
no - ANSWER-no
Which of the following would be the best example of a final good
or service?
a machine that GM purchased to build cars
flour used to make pizza
jet fuel used by United Airlines in one of its airliners
a meal that a family makes for itself - ANSWER-a machine that
GM purchased to build cars
ECON 104 BILL GOFFE FINAL EXAM LATEST 2026 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
Which of the following items would be in GDP?
the value of pollution emitted from a factory
the building that a company has used for its headquarters for a
decade
a household purchasing tax advice from an accountant
a single person cleaning their own clothes - ANSWER-a
household purchasing tax advice from an accountant
How is leisure counted in GDP?
a consumption
as investment
it is not counted in GDP
as an intermediate good - ANSWER-it is not counted in GDP
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The best example of a capital good would be ___.
the generator in a power plant that makes electricity
a new lawn mower owned by Mr. Goffe
aluminum that is transformed into an airplane
funds that a company borrows from a bank - ANSWER-the
generator in a power plant that makes electricity
Which of the following items would NOT be in U.S. GDP this
quarter?
a dress produced and sold in Dallas, Texas this month
a crane that was produced and sold as new two years ago that
was in turn resold last month
a plane produced by Boeing this month that was sold in Europe to
Air France
a just-completed new home is sold to a household - ANSWER-a
crane that was produced and sold as new two years ago that was
in turn resold last month
,3|Page
A report on GDP says that income fell. Then spending measured
by GDP __.
might have risen
must have risen
might have fallen
must have fallen - ANSWER-must have fallen
For the sake of this question, say that total inventories in the U.S.
was $1 trillion in one year and then $1 trillion the next year. Would
there be any inventory investment?
yes
no
cannot tell with the given information - ANSWER-no
A basic difference between a capital good and an intermediate
good is that an intermediate good is used up or transformed in the
production process while a capital good is not.
, 4|Page
true
false - ANSWER-true
Is this the correct definition of GDP when measured by
production? "GDP for a nation's economy is all goods and
services produced domestically in a year."
yes
no - ANSWER-no
Which of the following would be the best example of a final good
or service?
a machine that GM purchased to build cars
flour used to make pizza
jet fuel used by United Airlines in one of its airliners
a meal that a family makes for itself - ANSWER-a machine that
GM purchased to build cars
