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EC 250 EXAM LATEST UPDATE THIS YEAR ALL WITH
COMPLETE 200 QUESTIONS AND WELL
ELABORATED ANSWERS JUST RELEASED
QUESTION: According to salary.com, in 2011 the value of work of a stay at home was
approximately
a) 30 000 a year
b) 60 000 a year
c) 110 000 a year
d) 150 000 a year - ANSWER✔✔c)
QUESTION :Which of the following is a flow variable?
a)wealth
b) the number of people who are unemployed
c) government debt
d) income - ANSWER✔✔d)
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QUESTION :GDP measures the output of:
a) all goods and services produced in Canada
b) all goods and services produced by Canadians
c) all goods produced in Canada
d) all good produced by Canadians - ANSWER✔✔a)
QUESTION :Over the last 55 years, the nominal GDP increased ___ times and real GDP
increased ___ times
a) 54, 6
b) 6, 54
c) 10, 10
d) 15, 10 - ANSWER✔✔a)
QUESTION :A Canadian hockey player moves overseas. As a result, Canadian GDP ______ and
Canadian GNP _______
a) increases, increases
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b) increases, does not change
c) Falls, increases
d) Falls, does not change - ANSWER✔✔d)
QUESTION :A woman divorces her gardener. He continues to tend her garden but now she pays
him 30 000 per year and he pays her 10 000 for meals she prepares. As a result, GDP
a) does not change
b) increases by 20 000
c) increases by 30 000
d) increases by 40 000 - ANSWER✔✔d)
QUESTION :The calculation of Canadian GNP includes
a) pollution costs
b) household work, if done by foreigners
c) worldwide profits or losses of TD bank
d) all of the above - ANSWER✔✔c)
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QUESTION :Real GDP exceeds nominal GDP if
a) prices have fallen since base year
b) prices are falling
c) prices have increased since the base year
d) prices are rising - ANSWER✔✔a)
QUESTION :If the nominal interest rate is 1% and the inflation rate is 5%, the real interest rate
is:
a) 1%
b) 6%
c) -4%
d) -5% - ANSWER✔✔c)
QUESTION :If the real interest rate declines by 1% and the inflation rate increases by 2%, the
nominal interest rate must have:
a) increased by 2%
b) increased by 1%
c) remain constant
EC 250 EXAM LATEST UPDATE THIS YEAR ALL WITH
COMPLETE 200 QUESTIONS AND WELL
ELABORATED ANSWERS JUST RELEASED
QUESTION: According to salary.com, in 2011 the value of work of a stay at home was
approximately
a) 30 000 a year
b) 60 000 a year
c) 110 000 a year
d) 150 000 a year - ANSWER✔✔c)
QUESTION :Which of the following is a flow variable?
a)wealth
b) the number of people who are unemployed
c) government debt
d) income - ANSWER✔✔d)
, Page 2 of 46
QUESTION :GDP measures the output of:
a) all goods and services produced in Canada
b) all goods and services produced by Canadians
c) all goods produced in Canada
d) all good produced by Canadians - ANSWER✔✔a)
QUESTION :Over the last 55 years, the nominal GDP increased ___ times and real GDP
increased ___ times
a) 54, 6
b) 6, 54
c) 10, 10
d) 15, 10 - ANSWER✔✔a)
QUESTION :A Canadian hockey player moves overseas. As a result, Canadian GDP ______ and
Canadian GNP _______
a) increases, increases
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b) increases, does not change
c) Falls, increases
d) Falls, does not change - ANSWER✔✔d)
QUESTION :A woman divorces her gardener. He continues to tend her garden but now she pays
him 30 000 per year and he pays her 10 000 for meals she prepares. As a result, GDP
a) does not change
b) increases by 20 000
c) increases by 30 000
d) increases by 40 000 - ANSWER✔✔d)
QUESTION :The calculation of Canadian GNP includes
a) pollution costs
b) household work, if done by foreigners
c) worldwide profits or losses of TD bank
d) all of the above - ANSWER✔✔c)
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QUESTION :Real GDP exceeds nominal GDP if
a) prices have fallen since base year
b) prices are falling
c) prices have increased since the base year
d) prices are rising - ANSWER✔✔a)
QUESTION :If the nominal interest rate is 1% and the inflation rate is 5%, the real interest rate
is:
a) 1%
b) 6%
c) -4%
d) -5% - ANSWER✔✔c)
QUESTION :If the real interest rate declines by 1% and the inflation rate increases by 2%, the
nominal interest rate must have:
a) increased by 2%
b) increased by 1%
c) remain constant
