Search Header Logo

NEC preparation 9

Authored by JieYing Xiao

Business

10th Grade

Used 1+ times

NEC preparation 9
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A firm produces 1000 units and has a total cost of $50 000. The variable cost per unit produced is $40.

What is the total fixed cost of the firm?

$1000

$4000

$10000

$40000

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When is the budget described as balanced?

when direct taxes and indirect taxes are equal

when exports and imports are equal

when government spending and government revenue are equal

when the demand for money and the supply of money are equal

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the main aim of supply-side policy?

increasing economic growth by raising productivity

increasing the balance of payments surplus by restricting free trade

reducing the government’s budget deficit by increasing taxation

reducing the money supply by increasing the rate of interest

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A government has a contractionary fiscal policy to reduce inflation. What will the government increase?

expenditure on infrastructure

income tax rates

personal tax allowances

unemployment benefits

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What would not be required in the construction of an index of consumer prices?

the selection of a base year

the selection of a representative range of items

the calculation of average wage levels

the weighting of each item in the index

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In recent years some low-income countries have achieved higher rates of economic growth than high-income countries.

What is most likely to explain this accelerated economic growth?

ease of transfer of modern technology to increase productivity

falling agricultural prices

higher ratios of labour to capital in manufacturing industries

increased trade barriers by high-income countries

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A perfectly inelastic supply curve represents

a product supply that is extremely responsive to a price change.

a product with a constant price, regardless of the quantity offered for sale.

a product in abundant in supply.

a fixed supply of a good.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?