1|Page
ECON 200 FINAL EXAM AND STUDY GUIDE NEWEST
2025/ 2026 TEST BANK| ECON 200 FINAL EXAM PREP
WITH COMPLETE 300 REAL EXAM QUESTIONS AND
CORRECT VERIFIED ANSWERS/ ALREADY GRADED
A+ (MOST RECENT!!)
A government that collects more in taxes than it spends experiences
A. a budget deficit
B. an increase in the national debt
C. a budget balance
D. a budget surplus -Correct Answer- D. a budget surplus.
Which equation represents the relationship between GDP and the four
major expenditure components?
A. Y = (C + I) − (G + NX)
B. Y = C + I + G + NX
C. Y = (C + I) (G + NX)
D. Y = C(I + G + NX) -Correct Answer- B. Y = C + I + G + NX
If you were attempting to forecast the level of consumer spending by
households, which measure of total production or total income might be
most helpful in making your forecast?
A. Personal income
pg. 1
,2|Page
B. Disposable personal income
C. Gross national product
D. Net national product -Correct Answer- B. Disposable personal
income
When looking at GDP as the amount of total income, the largest
component of total income in the U.S. is
A. wages
B. profits
C. rent
D. interest. -Correct Answer- A. wages.
From the list below, select the variable that will cause the supply curve
to shift:
A. Consumer income
B. The cost of raw materials
C. Prices of related goods
D. Population and demographics -Correct Answer- B. The cost of raw
materials
Which Congressional Act was passed in 1936 to outlaw price
discrimination that reduces competition?
A. the Clayton Act
pg. 2
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B. the Sherman Act
C. the Celler-Kefauver Act
D. the Robinson-Patman Ac -Correct Answer- D. the Robinson-Patman
Act
Price leadership is a form of ____________ in which one firm in an
oligopoly announces a price change and the other firms in the industry
match the change
A. explicit collusion
B. retaliation strategy
C. implicit collusion
D. auction strategy -Correct Answer- C. implicit collusion
Which of these variables are the main monetary policy targets of the
Fed?
A. the money supply and the interest rate
B. economic growth and productivity
C. real GDP and the price level
D. the inflation rate and the unemployment rate -Correct Answer- A. the
money supply and the interest rate
When the Fed conducts monetary policy, the most relevant interest rate
is the
A. long-term real interest rate.
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, 4|Page
B. long-term nominal interest rate
C. short-term nominal interest rate
D. short-term real interest rate -Correct Answer- C. short-term nominal
interest rate
The ease with which a financial security can be exchanged for money is
referred to as
A. retained earnings
B. capital
C. liquidity
D. loanable funds -Correct Answer- C. liquidity.
Which of the following terms best describes the result of the forces of
competition driving the market price to the minimum average cost of the
typical firm?
A. productive efficiency
B. decreasing-cost industry
C. competitive markdown
D. allocative efficiency -Correct Answer- A. productive efficiency
Which of the following causes changes in the CPI to overstate the true
inflation rate?
A. New product bias
pg. 4
ECON 200 FINAL EXAM AND STUDY GUIDE NEWEST
2025/ 2026 TEST BANK| ECON 200 FINAL EXAM PREP
WITH COMPLETE 300 REAL EXAM QUESTIONS AND
CORRECT VERIFIED ANSWERS/ ALREADY GRADED
A+ (MOST RECENT!!)
A government that collects more in taxes than it spends experiences
A. a budget deficit
B. an increase in the national debt
C. a budget balance
D. a budget surplus -Correct Answer- D. a budget surplus.
Which equation represents the relationship between GDP and the four
major expenditure components?
A. Y = (C + I) − (G + NX)
B. Y = C + I + G + NX
C. Y = (C + I) (G + NX)
D. Y = C(I + G + NX) -Correct Answer- B. Y = C + I + G + NX
If you were attempting to forecast the level of consumer spending by
households, which measure of total production or total income might be
most helpful in making your forecast?
A. Personal income
pg. 1
,2|Page
B. Disposable personal income
C. Gross national product
D. Net national product -Correct Answer- B. Disposable personal
income
When looking at GDP as the amount of total income, the largest
component of total income in the U.S. is
A. wages
B. profits
C. rent
D. interest. -Correct Answer- A. wages.
From the list below, select the variable that will cause the supply curve
to shift:
A. Consumer income
B. The cost of raw materials
C. Prices of related goods
D. Population and demographics -Correct Answer- B. The cost of raw
materials
Which Congressional Act was passed in 1936 to outlaw price
discrimination that reduces competition?
A. the Clayton Act
pg. 2
,3|Page
B. the Sherman Act
C. the Celler-Kefauver Act
D. the Robinson-Patman Ac -Correct Answer- D. the Robinson-Patman
Act
Price leadership is a form of ____________ in which one firm in an
oligopoly announces a price change and the other firms in the industry
match the change
A. explicit collusion
B. retaliation strategy
C. implicit collusion
D. auction strategy -Correct Answer- C. implicit collusion
Which of these variables are the main monetary policy targets of the
Fed?
A. the money supply and the interest rate
B. economic growth and productivity
C. real GDP and the price level
D. the inflation rate and the unemployment rate -Correct Answer- A. the
money supply and the interest rate
When the Fed conducts monetary policy, the most relevant interest rate
is the
A. long-term real interest rate.
pg. 3
, 4|Page
B. long-term nominal interest rate
C. short-term nominal interest rate
D. short-term real interest rate -Correct Answer- C. short-term nominal
interest rate
The ease with which a financial security can be exchanged for money is
referred to as
A. retained earnings
B. capital
C. liquidity
D. loanable funds -Correct Answer- C. liquidity.
Which of the following terms best describes the result of the forces of
competition driving the market price to the minimum average cost of the
typical firm?
A. productive efficiency
B. decreasing-cost industry
C. competitive markdown
D. allocative efficiency -Correct Answer- A. productive efficiency
Which of the following causes changes in the CPI to overstate the true
inflation rate?
A. New product bias
pg. 4
