ECON 200 EXAM 2 UNL CERTIFICATION EVALUATION ACCURATE QUESTIONS GRADED A PLUS

ECON 200 EXAM 2 UNL CERTIFICATION
EVALUATION ACCURATE QUESTIONS
GRADED A PLUS

●● identify GDP's major components.
Answer: consumption + gross investment + government purchases + net
exports


●● consumption.
Answer: all expenditures made by households on goods and services like
clothing, food, electronics, and recreation


●● what is included in consumption?.
Answer: durable goods + nondurable goods + services


●● Government expenditure.
Answer: all final goods purchased by federal, states and local
governments like police officers/tanks and labor resources like police
officers/teachers


●● gross invesetment.
Answer: the dollar value of all new capital purchased and the expansion
of inventories in an economy

, ●● categories of gross investment.
Answer: business fixed investment, residential investment, inventory
investment


●● business fixed investment.
Answer: purchases by firms of new capital goods (ex: offices, factories,
tools, machinery)


●● residential investment.
Answer: purchases of new homes + home improvements


●● inventory investment.
Answer: changes in inventories from one year to the next


●● net investment.
Answer: gross investment - depreciation (represents the net change in
capital stock during a year)


●● net exports.
Answer: exports - imports


●● exports.