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ECON 200 UOFA EXAM 3 NEWEST ALL QUESTIONS
AND VERIFIED SOLUTIONS 2026-2027 LATEST UPDATE
THIS YEAR
QUESTION: The largest component of American GDP is: _________.
(a) income
(b) profits
(c) investment (d) consumption - ANSWER-D. Consumption
QUESTION: ___________ 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
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QUESTION: Bob is a highly qualified worker who is unemployed but looking for work. His
expertise is in a small field and new jobs only open up sporadically. While he is waiting for one
of those openings he is considered:
(a) structurally unemployed.
(b) frictionally unemployed.
(c) underemployed.
(d) a discouraged worker. - ANSWER-(b) frictionally unemployed.
QUESTION: The unemployment rate reported by the media is known as U-3. Broader measures
of unemployment include people who are marginally connected to the workforce. Those
broader measures indicate that the true level of unemployment and underemployment is close
to - ANSWER-20%
QUESTION: Alex is unemployed but looking for work. For many years he worked as a video
store manager for Blockbuster, but since 2013 he has been unable to find a similar position
because his position is now redundant. He is considered
(a) structurally unemployed.
(b) frictionally unemployed. (c) underemployed.
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(d) a discouraged worker. - ANSWER-structurally unemployed.
QUESTION: Bob's assembly line job has been replaced by robots, and Bob lacks abilities and
skills required to attain other jobs. He is considered:
(a) structurally unemployed.
(b) frictionally unemployed. (c) underemployed.
(d) a discouraged worker. - ANSWER-(a) structurally unemployed.
QUESTION: After many months a job seeker gives up and stops looking for work. He is now
considered:
(a) structurally unemployed. (b) frictionally unemployed. (c) cyclically unemployed (d) a
discouraged worker. - ANSWER-(d) a discouraged worker.
QUESTION: The unemployment rate reported by the media is known as U-3. This measure of
unemployment does not take into account:
(a) discouraged workers.
(b) workers who are underpaid
ECON 200 UOFA EXAM 3 NEWEST ALL QUESTIONS
AND VERIFIED SOLUTIONS 2026-2027 LATEST UPDATE
THIS YEAR
QUESTION: The largest component of American GDP is: _________.
(a) income
(b) profits
(c) investment (d) consumption - ANSWER-D. Consumption
QUESTION: ___________ 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
,Page 2 of 24
QUESTION: Bob is a highly qualified worker who is unemployed but looking for work. His
expertise is in a small field and new jobs only open up sporadically. While he is waiting for one
of those openings he is considered:
(a) structurally unemployed.
(b) frictionally unemployed.
(c) underemployed.
(d) a discouraged worker. - ANSWER-(b) frictionally unemployed.
QUESTION: The unemployment rate reported by the media is known as U-3. Broader measures
of unemployment include people who are marginally connected to the workforce. Those
broader measures indicate that the true level of unemployment and underemployment is close
to - ANSWER-20%
QUESTION: Alex is unemployed but looking for work. For many years he worked as a video
store manager for Blockbuster, but since 2013 he has been unable to find a similar position
because his position is now redundant. He is considered
(a) structurally unemployed.
(b) frictionally unemployed. (c) underemployed.
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(d) a discouraged worker. - ANSWER-structurally unemployed.
QUESTION: Bob's assembly line job has been replaced by robots, and Bob lacks abilities and
skills required to attain other jobs. He is considered:
(a) structurally unemployed.
(b) frictionally unemployed. (c) underemployed.
(d) a discouraged worker. - ANSWER-(a) structurally unemployed.
QUESTION: After many months a job seeker gives up and stops looking for work. He is now
considered:
(a) structurally unemployed. (b) frictionally unemployed. (c) cyclically unemployed (d) a
discouraged worker. - ANSWER-(d) a discouraged worker.
QUESTION: The unemployment rate reported by the media is known as U-3. This measure of
unemployment does not take into account:
(a) discouraged workers.
(b) workers who are underpaid
