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ECN 211 Exam 2 2025 Questions and Answers
ECN 211 Exam 2 2025 Questions and Answers
Course:
ECN 211
Institution:
ECN 211
ECN 211 Exam 2 2025 Questions and Answers
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| Uploaded on: | September 4, 2025 |
| Last updated: | September 5, 2025 |
| Number of pages: | 11 |
| Written in: | 2025/2026 |
| Type: | Exam (elaborations) |
| Contains: | Questions & Answers |
| Tags: | ECN 211 Exam 2 2025 Questions and Answers |
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ECN 211 Exam 2 2025 Questions and Answers GDP (Gross Domestic Profit) - ....ANSWER ...-the total market value of all final/finished goods and services produced within a country in a given period of time Not Included in GDP - ....ANSWER ...--goods not bought/sold in a market (home production, charity work, free things) -intermediate goods -used items -illegal goods and services -goods produced in another country -financial transactions (bonds, stocks, etc.) -transfer payments (welfare, unemployment, etc.) Expenditure Approach of GDP - ....ANSWER ...-calculated by summing up all of the expenditures made on final goods and services 4 Main Aggregate Expenditures - ....ANSWER ...--Consumption by households -Investment by businesses -Government spending on goods and services …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1
