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ECON 2030 FINAL AND STUDY GUIDE (LSU) NEWEST
2026 ACTUAL EXAM TEST BANK| LSU ECON 2030
FINAL EXAM REVIEW WITH COMPLETE 400 REAL
EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS/ ALREADY GRADED A+ (MOST RECENT!!)
If the price of pineapple juice was $4.50 a gallon one year ago and it is
now $5.75 a gallon, what is the % change in the price of pineapple
juice?
A) 7.8%
B) 12.4%
C) 27.8%
D) 57.5% - Correct Answer - C) 27.8%
Real GDP was $23,223.9 billion in Q.2 of 2024. Real GDP was
$23,685.5 billion in Q.2 of 2025. What was the % change in real GDP
between 2024 and 2025?
A) 1.99%
B) 2.40%
C) -1.94%
D) -2.55%. - Correct Answer - A) 1.99%
The following equations represent the demand for and supply of dragon
fruit.
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QD = 20 - P
QS = -10 + 5P
What is the equilibrium price (P) and quantity (Q - in thousands) of
dragon fruit?
A) P = $2; Q = 10
B) P = $5; Q = 15
C) P = $20; Q = 10
D) P = $5; Q = 5 - Correct Answer - B) P = $5; Q = 15
The following equations represent demand and supply for silver
pendants
QD = 50 - 2P
QS = -10 + 2P
What are the equilibrium price (P) and equilibrium quantity (Q) of silver
pendants?
A) P=$10; Q=30
B) P=$50; Q=10
C) P=$20; Q=15
D) P=$15; Q=20 - Correct Answer - D) P=$15; Q=20
Which of the following approaches to measuring GDP is the least
accurate?
A) the income approach
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B) the spending approach
C) the circular flow approach
D) the value added approach - Correct Answer - A) the income approach
Violet is a watercolor artist. She purchases canvases, paints, brushes, and
accessories for $75. She sells one of her original paintings to an art
gallery for $1,500, which, in turn, sells it to a wealthy German art
collector for $4,500. How much market value does the gallery add?
A) $1,425
B) $1,500
C) $3,000
D) $4,500 - Correct Answer - C) $3,000
Suppose the labor-force participation rate (LFPR) is 75%, there are 180
million employed, and the unemployment rate (UR) is 20%. What is the
working-age population (WAP) in this economy?
A) 500 million
B) 300 million
C) 240 million
D) 375 million - Correct Answer - B) 300 million
Suppose the working-age population (WAP) is 300 million, the labor-
force participation rate (LFPR) is 80%, and the unemployment rate (UR)
is 20%. How many people are employed (E) in this economy?
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A) 375 million
B) 300 million
C) 240 million
D) 192 million - Correct Answer - D) 192 million
If the price of mango juice was $4.50 a gallon one year ago and it is now
$5.06 a gallon, what is the % change in the price of mango juice?
A) 57.5%
B) 27.8%
C) 7.8%
D) 12.4% - Correct Answer - D) 12.4%
Real GDP was $23,223.9 billion in Q.2 of 2024. Real GDP was
$23,685.5 billion in Q.2 of 2025. What was the % change in real GDP
between 2024 and 2025?
A) -1.94%
B) -2.55%
C) 1.99%
D) 2.40% - Correct Answer - C) 1.99%
The following equations represent the demand for and supply of dragon
fruit.
QD = 20 - P
ECON 2030 FINAL AND STUDY GUIDE (LSU) NEWEST
2026 ACTUAL EXAM TEST BANK| LSU ECON 2030
FINAL EXAM REVIEW WITH COMPLETE 400 REAL
EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS/ ALREADY GRADED A+ (MOST RECENT!!)
If the price of pineapple juice was $4.50 a gallon one year ago and it is
now $5.75 a gallon, what is the % change in the price of pineapple
juice?
A) 7.8%
B) 12.4%
C) 27.8%
D) 57.5% - Correct Answer - C) 27.8%
Real GDP was $23,223.9 billion in Q.2 of 2024. Real GDP was
$23,685.5 billion in Q.2 of 2025. What was the % change in real GDP
between 2024 and 2025?
A) 1.99%
B) 2.40%
C) -1.94%
D) -2.55%. - Correct Answer - A) 1.99%
The following equations represent the demand for and supply of dragon
fruit.
,2|Page
QD = 20 - P
QS = -10 + 5P
What is the equilibrium price (P) and quantity (Q - in thousands) of
dragon fruit?
A) P = $2; Q = 10
B) P = $5; Q = 15
C) P = $20; Q = 10
D) P = $5; Q = 5 - Correct Answer - B) P = $5; Q = 15
The following equations represent demand and supply for silver
pendants
QD = 50 - 2P
QS = -10 + 2P
What are the equilibrium price (P) and equilibrium quantity (Q) of silver
pendants?
A) P=$10; Q=30
B) P=$50; Q=10
C) P=$20; Q=15
D) P=$15; Q=20 - Correct Answer - D) P=$15; Q=20
Which of the following approaches to measuring GDP is the least
accurate?
A) the income approach
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B) the spending approach
C) the circular flow approach
D) the value added approach - Correct Answer - A) the income approach
Violet is a watercolor artist. She purchases canvases, paints, brushes, and
accessories for $75. She sells one of her original paintings to an art
gallery for $1,500, which, in turn, sells it to a wealthy German art
collector for $4,500. How much market value does the gallery add?
A) $1,425
B) $1,500
C) $3,000
D) $4,500 - Correct Answer - C) $3,000
Suppose the labor-force participation rate (LFPR) is 75%, there are 180
million employed, and the unemployment rate (UR) is 20%. What is the
working-age population (WAP) in this economy?
A) 500 million
B) 300 million
C) 240 million
D) 375 million - Correct Answer - B) 300 million
Suppose the working-age population (WAP) is 300 million, the labor-
force participation rate (LFPR) is 80%, and the unemployment rate (UR)
is 20%. How many people are employed (E) in this economy?
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A) 375 million
B) 300 million
C) 240 million
D) 192 million - Correct Answer - D) 192 million
If the price of mango juice was $4.50 a gallon one year ago and it is now
$5.06 a gallon, what is the % change in the price of mango juice?
A) 57.5%
B) 27.8%
C) 7.8%
D) 12.4% - Correct Answer - D) 12.4%
Real GDP was $23,223.9 billion in Q.2 of 2024. Real GDP was
$23,685.5 billion in Q.2 of 2025. What was the % change in real GDP
between 2024 and 2025?
A) -1.94%
B) -2.55%
C) 1.99%
D) 2.40% - Correct Answer - C) 1.99%
The following equations represent the demand for and supply of dragon
fruit.
QD = 20 - P
