1|Page
ECON 200 UOFA Final Exam Version 2 Newest
2025/2026 Complete 100 Questions And 100%Correct
Answers (Verified And Graded A+|Brand New!)
The underground economy can be described as:
(a) economic production that includes mining.
(b) economic activity that is hidden from the government to
avoid taxes or because the activity is illegal.
(c) production of infrastructure that spurs growth in the rest
of the economy.
(d) production of intermediate goods and services. -
ANSWER-economic activity that is hidden from the
government to avoid taxes or because the activity is illegal
,2|Page
How is GDP measured?
(a) GDP is measured by adding the quantities of goods
and services produced in a given year.
(b) GDP is measured by adding up all the intermediate
sales throughout the year.
(c) GDP is measured using stock market values, or stock
prices.
(d) GDP is measured by adding the prices of final goods
and services produced throughout the economy in a given
time period. - ANSWER-GDP is measured by adding the
prices of final goods and services produced throughout the
economy in a given time period
,3|Page
Which of the following is counted in GDP?
(a) Hamburger buns bought by McDonald's for making Big
Macs.
(b) A used economics textbook.
(c) A pair of jeans you purchase from Old Navy.
(d) An old painting you buy at an auction. - ANSWER-a
pair of jeans you purchase from old navy
The largest component of American GDP is: _________.
(a) income
(b) profits
(c) investment
, 4|Page
(d) consumption - ANSWER-consumption
___________ 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-
inflation, an increase in production
31) Suppose the relevant population (non-institutionalized,
at least age 16) of Wildcat Nation is 10,000. Of this
population, 5,000 are employed, 2,000 have never worked
ECON 200 UOFA Final Exam Version 2 Newest
2025/2026 Complete 100 Questions And 100%Correct
Answers (Verified And Graded A+|Brand New!)
The underground economy can be described as:
(a) economic production that includes mining.
(b) economic activity that is hidden from the government to
avoid taxes or because the activity is illegal.
(c) production of infrastructure that spurs growth in the rest
of the economy.
(d) production of intermediate goods and services. -
ANSWER-economic activity that is hidden from the
government to avoid taxes or because the activity is illegal
,2|Page
How is GDP measured?
(a) GDP is measured by adding the quantities of goods
and services produced in a given year.
(b) GDP is measured by adding up all the intermediate
sales throughout the year.
(c) GDP is measured using stock market values, or stock
prices.
(d) GDP is measured by adding the prices of final goods
and services produced throughout the economy in a given
time period. - ANSWER-GDP is measured by adding the
prices of final goods and services produced throughout the
economy in a given time period
,3|Page
Which of the following is counted in GDP?
(a) Hamburger buns bought by McDonald's for making Big
Macs.
(b) A used economics textbook.
(c) A pair of jeans you purchase from Old Navy.
(d) An old painting you buy at an auction. - ANSWER-a
pair of jeans you purchase from old navy
The largest component of American GDP is: _________.
(a) income
(b) profits
(c) investment
, 4|Page
(d) consumption - ANSWER-consumption
___________ 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-
inflation, an increase in production
31) Suppose the relevant population (non-institutionalized,
at least age 16) of Wildcat Nation is 10,000. Of this
population, 5,000 are employed, 2,000 have never worked
