ECO 302 SOPHIA MACROECONOMICS UNIT 3 MILESTONE 3 QUESTIONS WITH VERIFIED ANSWERS,100%CORRECT

ECO 302 SOPHIA MACROECONOMICS UNIT 3 MILESTONE 3 QUESTIONS WITH VERIFIED ANSWERS 1 Using the expenditure approach and the information shown here, which of the following is the calculated GDP? Individual Purchases: $150 billion Government purchases: $200 billion Business investments: $300 billion Imports: $150 billion Exports: $100 billion • $850 billion • $750 billion • $900 billion • $600 billion CONCEPT Expenditure and Income Equations 2 Which of the following is NOT a step in the development of the gold standard? • People wrote checks that could transfer ownership of gold without removing it from the vault. • Gold functioned in limited ways; its primary use was in making jewelry. • Banks emerged as depositories. • Banks began to print paper money. CONCEPT Gold Standard 3 Which statement below regarding monetary policy is false?