Page |1
ECON 200 UOFA Exam 3 Newest 2025/2026 NEWEST
ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
In developed countries if you want to shift the labor productivity
curve up you need to
A) use more technology
B) use more capital
C) hire more workers - ANSWER-use more technology
How is the Consumer Price Index (CPI) calculated?
A) The CPI measures the change in the price of a single good in
the market from one year to the next.
B) The CPI measures changes in the price level of a market
basket of consumer goods and services purchased by
households.
C) The CPI measures the change in prices using stock market
values, or stock prices.
D) The CPI measures the prices of final goods and services
produced throughout the economy in a given time period. -
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ANSWER-B) The CPI measures changes in the price level of a
market basket of consumer goods and services purchased by
households.
___________ causes nominal GDP to rise; but ___________
causes real GDP to rise.
A) inflation, a decrease in production
B) inflation, an increase in production
C) deflation, a decrease in production
D) deflation, an increase in production - ANSWER-B) inflation, an
increase in production
A friend tells you that Avatar is the highest grossing film of all-
time. How would you respond?
A) You congratulate them for being correct, and understanding the
difference between nominal and real values.
B) You agree, but point out that this is only nominally true due to
inflation.
C) You disagree, and point out that Furious 7 is the top grossing
film of 2015.
, Page |3
D) You disagree, and point out that Gone with the Wind made
$200 million dollars when it was released in the 1930s. -
ANSWER-B) You agree, but point out that this is only nominally
true due to inflation.
If inflation is a general rise in the price level, why have consumer
electronics prices fallen over time?
A) The demand for electronics has decreased.
B) Electronics are not counted in the CPI.
C) Electronics are getting smaller in size so the price is falling as
well.
D) Increases in technology have greatly lowered the production
costs for these goods. - ANSWER-D) Increases in technology
have greatly lowered the production costs for these goods.
The four components of GDP are:
A) income, profits, investment and consumption
B) profits, investment, consumption and government expenditures
C) investment, consumption, govt expenditures, and net exports
ECON 200 UOFA Exam 3 Newest 2025/2026 NEWEST
ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
In developed countries if you want to shift the labor productivity
curve up you need to
A) use more technology
B) use more capital
C) hire more workers - ANSWER-use more technology
How is the Consumer Price Index (CPI) calculated?
A) The CPI measures the change in the price of a single good in
the market from one year to the next.
B) The CPI measures changes in the price level of a market
basket of consumer goods and services purchased by
households.
C) The CPI measures the change in prices using stock market
values, or stock prices.
D) The CPI measures the prices of final goods and services
produced throughout the economy in a given time period. -
, Page |2
ANSWER-B) The CPI measures changes in the price level of a
market basket of consumer goods and services purchased by
households.
___________ causes nominal GDP to rise; but ___________
causes real GDP to rise.
A) inflation, a decrease in production
B) inflation, an increase in production
C) deflation, a decrease in production
D) deflation, an increase in production - ANSWER-B) inflation, an
increase in production
A friend tells you that Avatar is the highest grossing film of all-
time. How would you respond?
A) You congratulate them for being correct, and understanding the
difference between nominal and real values.
B) You agree, but point out that this is only nominally true due to
inflation.
C) You disagree, and point out that Furious 7 is the top grossing
film of 2015.
, Page |3
D) You disagree, and point out that Gone with the Wind made
$200 million dollars when it was released in the 1930s. -
ANSWER-B) You agree, but point out that this is only nominally
true due to inflation.
If inflation is a general rise in the price level, why have consumer
electronics prices fallen over time?
A) The demand for electronics has decreased.
B) Electronics are not counted in the CPI.
C) Electronics are getting smaller in size so the price is falling as
well.
D) Increases in technology have greatly lowered the production
costs for these goods. - ANSWER-D) Increases in technology
have greatly lowered the production costs for these goods.
The four components of GDP are:
A) income, profits, investment and consumption
B) profits, investment, consumption and government expenditures
C) investment, consumption, govt expenditures, and net exports
