Unit 1 Topic 11 Quiz

The youngest age at which you can get a full-time job is

• 15

• 18

• 17

During an economic expansion:

• Consumer spending is high and inflation is low

• Production is low and unemployment is high

• Consumer spending is low and unemployment is low

 

VAT is an example of a:

• a.     Variable tax

•   Proportionate tax

•     Flat-rate tax

The currency of the eurozone is euros and

• Cents

• Pence

• Dollars

Price stability is about maintaining:

• Low inflation

• High interest rates

• Low unemployment

A non-professional career, such as in retail, will tend to:

• Have a flat pay structure and pay an hourly wage

• Have an increasing pay structure and pay monthly salary

• Have a flat pay structure and pay a monthly salary

Inflation means that:

• The value of money depreciates over time

• The value of our money increases over time

• The value of our money is maintained over time

The total value of all of the goods and services that a country produces is:

• Net domestic product

• Gross domestic product

• Gross national product