ECN 211 ASU COMPREHENSIVE
EXAMINATION TEST 2026 FULL QUESTIONS
AND CORRECT ANSWERS
◉TRUE/FALSE:
When an American citizen owns a factory in Haiti, the production at
her factory is not part of the U.S. GDP. Answer: TRUE
*It is a part of Haiti's GDP = items are included in a nation's GDP if
they are produced domestically regardless of the nationality of the
producer
◉TRUE/FALSE:
When a Canadian citizen works temporarily in the U.S., her
production is part of the U>S> GDP. Answer: TRUE
*GDP measures the value of production within the geographic
confines of a country regardless of nationality
, ◉nominal GDP. Answer: the production of goods and services valued
at current prices
◉real GDP. Answer: the production of goods and services valued at
constant prices
◉Real GDP is.... Answer: not adjusted for differences in leisure time,
nor adjusted for the differences in the quality of the environment
◉how to calculate real GPA per a person. Answer: Real GDP of
Country / population
◉What two things must be true if total spending rises from one year
to the nest?. Answer: 1. the economy is producing a larger output of
goods and services
2. goods and services are being sold at higher prices
◉Sally drives an automobile she purchased several years ago. This
year she bought gasoline and some parts and spent five hours
making repairs. Which of the following is included in this year's
GDP?. Answer: *GDP including the purchase of final goods and
services, but not the unpaid value of household production*
A: the amount she paid to buy gasoline and new parts, but not the
value of her time
EXAMINATION TEST 2026 FULL QUESTIONS
AND CORRECT ANSWERS
◉TRUE/FALSE:
When an American citizen owns a factory in Haiti, the production at
her factory is not part of the U.S. GDP. Answer: TRUE
*It is a part of Haiti's GDP = items are included in a nation's GDP if
they are produced domestically regardless of the nationality of the
producer
◉TRUE/FALSE:
When a Canadian citizen works temporarily in the U.S., her
production is part of the U>S> GDP. Answer: TRUE
*GDP measures the value of production within the geographic
confines of a country regardless of nationality
, ◉nominal GDP. Answer: the production of goods and services valued
at current prices
◉real GDP. Answer: the production of goods and services valued at
constant prices
◉Real GDP is.... Answer: not adjusted for differences in leisure time,
nor adjusted for the differences in the quality of the environment
◉how to calculate real GPA per a person. Answer: Real GDP of
Country / population
◉What two things must be true if total spending rises from one year
to the nest?. Answer: 1. the economy is producing a larger output of
goods and services
2. goods and services are being sold at higher prices
◉Sally drives an automobile she purchased several years ago. This
year she bought gasoline and some parts and spent five hours
making repairs. Which of the following is included in this year's
GDP?. Answer: *GDP including the purchase of final goods and
services, but not the unpaid value of household production*
A: the amount she paid to buy gasoline and new parts, but not the
value of her time
