EC 231 Economics Finals Exam (Qns & Ans) 2026

EC 231 Economics Finals Exam (Qns & Ans) 2026

1. What is the primary objective of monetary policy?
 a) Maximize government revenue
 b) Maintain price stability
 c) Promote full employment
 d) Control exchange rates
 ANS: b) Maintain price stability
 Rationale: The primary objective of monetary policy is to
maintain stable prices, which helps to stabilize the economy.
2. In the context of game theory, what type of strategy is a
Nash Equilibrium?
 a) A dominant strategy that yields the best outcome
 b) A situation where no player can benefit from changing
their strategy while others keep theirs unchanged
 c) A cooperative strategy that benefits all players
 d) A zero-sum outcome
 ANS: b) A situation where no player can benefit from
changing their strategy while others keep theirs unchanged
 Rationale: A Nash Equilibrium describes a stable state where
players optimize their outcomes given the strategies of others.

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