ECON 2101 Fall 2025 (77
questions and answers)
Using the table, what is the approximate growth rate of real GDP from 2019
to 2020? - answer 3%
If you invest $10,000 in a bond that earns 8% interest per year, how many
years will it take to double your money? - answer 8 years and 9 months
During the expansion phase of the business cycle, which of the following
eventually increases? - answer All of them
-production
-employment
-income
The period between a business cycle peak and a business cycle trough is
called - answer Recession
Which of the following is an example of human capital? - answer a college
education
If real GDP per capita doubles between 2007 and 2022, what is the average
annual growth rate of real GDP per capita?
Part 2 - answer 4.7%
A good measure of the standard of living is - answer real GDP per capita.
, If real GDP in a small country in 2019 is $8 billion and real GDP in the same
country in 2020 is $8.3 billion, the growth rate of real GDP between 2019 and
2020 is - answer 3.75%
Human capital refers to which of the following? - answer the accumulated
knowledge and skills workers acquire from education and training or from
their life experiences
Potential GDP refers to - answer the level of GDP attained when all firms are
producing at capacity.
Investment, as defined by economists, would not include which of the
following? Ford
Part 2 - answer buys U.S. government bonds.
Consider the following data on nominal GDP and real GDP (values are in
billions of dollars):
Year
Nominal GDP
Real GDP
2017
$7,400
$7,537
2018
7,813
7,813
2019
8,301
8,165
2020
questions and answers)
Using the table, what is the approximate growth rate of real GDP from 2019
to 2020? - answer 3%
If you invest $10,000 in a bond that earns 8% interest per year, how many
years will it take to double your money? - answer 8 years and 9 months
During the expansion phase of the business cycle, which of the following
eventually increases? - answer All of them
-production
-employment
-income
The period between a business cycle peak and a business cycle trough is
called - answer Recession
Which of the following is an example of human capital? - answer a college
education
If real GDP per capita doubles between 2007 and 2022, what is the average
annual growth rate of real GDP per capita?
Part 2 - answer 4.7%
A good measure of the standard of living is - answer real GDP per capita.
, If real GDP in a small country in 2019 is $8 billion and real GDP in the same
country in 2020 is $8.3 billion, the growth rate of real GDP between 2019 and
2020 is - answer 3.75%
Human capital refers to which of the following? - answer the accumulated
knowledge and skills workers acquire from education and training or from
their life experiences
Potential GDP refers to - answer the level of GDP attained when all firms are
producing at capacity.
Investment, as defined by economists, would not include which of the
following? Ford
Part 2 - answer buys U.S. government bonds.
Consider the following data on nominal GDP and real GDP (values are in
billions of dollars):
Year
Nominal GDP
Real GDP
2017
$7,400
$7,537
2018
7,813
7,813
2019
8,301
8,165
2020
