EC140 Midterm 1 questions with accurate answers [verified]
Appreciation - Answer-A fall in the exchange rate—it now takes less units of domestic currency to purchase one unit of foreign currency. Value added - Answer-=sales rev - cost of intermediate goods =wages paid to workers + profits paid to owners Measuring GDP Expenditure Side - Answer-Consumption Investment Expenditure (Inventory, new plant and equipment, new housing) Government Purchases Net Exports Measuring GDP Income Side - Answer-Factor payments: wages + salaries, interest, business profits Non factor payments: depreciation, indirect taxes-subsidies Statistical Discrepancy GDP Deflator Calculation - Answer-Nominal GDP/Real GDP * 100 =Current Q x Current P / Current Q x Base Period P Consumption Function - Closed economy - Answer-C = a + b(Yd) Average Propensity to Consume - Answer-The proportion of disposable income that households want to consume. = C /Yd
Geschreven voor
- Instelling
- EC140
- Vak
- EC140
Documentinformatie
- Geüpload op
- 16 oktober 2023
- Aantal pagina's
- 4
- Geschreven in
- 2023/2024
- Type
- Tentamen (uitwerkingen)
- Bevat
- Vragen en antwoorden
Onderwerpen
-
ec140 midterm 1 questions with accurate answers v
-
structural unemployment answer skills you have
-
full employment answer when cyclical unemploymen
-
full employment answer when cyclical unemploymen