ESP9 Economics Quiz

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Economics review

Creada por

Lorry Lopez

Filipinas

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Froggy Jumps ESP9 Economics QuizVersión en línea Economics review por Lorry Lopez 1 What does GDP measure in a country? a A country's total government spending in a year b The total value of all final goods and services produced in a period c The inflation rate of goods and services over a year 2 What is opportunity cost? a The time spent on a task b The value of the next best alternative forgone c The total amount of money spent on production 3 What is the Law of Demand? a As price rises, quantity demanded falls, ceteris paribus b Quantity supplied rises when price rises c Prices and quantity demanded rise together 4 Which tools are used in fiscal policy? a Government spending and taxes to influence the economy b Central bank interest rate changes c Setting exchange rates 5 What is inflation? a A sustained rise in the general price level b A fall in overall prices c A rise only in stock prices 6 Which factors can shift the demand curve? a Income, tastes, prices of related goods, expectations b Taxes on production c Only changes in the price of the good 7 What are common types of unemployment? a Frictional, structural, and cyclical unemployment b Underemployment, voluntary unemployment, and latent unemployment c Seasonal, bureaucratic, and criminal unemployment 8 What are the components of GDP? a Prices of assets like stocks and bonds b Consumption, Investment, Government Spending, Net Exports c Wages and profits only 9 What is comparative advantage? a Having the most resources b Producing more efficiently in absolute terms c Producing with lower opportunity cost than others 10 What does monetary policy control? a Government budget deficits b Tax rates set by the government c Money supply and interest rates by the central bank

Froggy Jumps

ESP9 Economics QuizVersión en línea

Economics review

por Lorry Lopez

What does GDP measure in a country?

A country's total government spending in a year

The total value of all final goods and services produced in a period

The inflation rate of goods and services over a year

What is opportunity cost?

The time spent on a task

The value of the next best alternative forgone

The total amount of money spent on production

What is the Law of Demand?

As price rises, quantity demanded falls, ceteris paribus

Quantity supplied rises when price rises

Prices and quantity demanded rise together

Which tools are used in fiscal policy?

Government spending and taxes to influence the economy

Central bank interest rate changes

Setting exchange rates

What is inflation?

A sustained rise in the general price level

A fall in overall prices

A rise only in stock prices

Which factors can shift the demand curve?

Income, tastes, prices of related goods, expectations

Taxes on production

Only changes in the price of the good

What are common types of unemployment?

Frictional, structural, and cyclical unemployment

Underemployment, voluntary unemployment, and latent unemployment

Seasonal, bureaucratic, and criminal unemployment

What are the components of GDP?

Prices of assets like stocks and bonds

Consumption, Investment, Government Spending, Net Exports

Wages and profits only

What is comparative advantage?

Having the most resources

Producing more efficiently in absolute terms

Producing with lower opportunity cost than others

What does monetary policy control?

Government budget deficits

Tax rates set by the government

Money supply and interest rates by the central bank

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ESP9 Economics Quiz

Froggy Jumps

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

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Froggy Jumps

ESP9 Economics QuizVersión en línea

por Lorry Lopez

What does GDP measure in a country?

What is opportunity cost?

What is the Law of Demand?

Which tools are used in fiscal policy?

What is inflation?

Which factors can shift the demand curve?

What are common types of unemployment?

What are the components of GDP?

What is comparative advantage?

What does monetary policy control?

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