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Economics Revision Circular

Authored by Renate Reichardt

Business

4th Grade

Used 4+ times

Economics Revision Circular
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10 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What circular flow condidtion is essential for economic growth?

Consumption is higher than savings

Government spending is higher than taxes

Exports are higher than imports

Injections are higer than leakages

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these is the correct formula for the multiplier?

1/MPC

1/(1-MPS)

1/(1-MPC)

1-MPC

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Who is this?

John Maynard Keynes

Milton Keynes

Mr Multiplier

Adam Smith

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Which of these best describes Keynes' attitude to markets?

The markets can solve problems themselves, leave them alone

Governments should manage markets, especially in recessions

Markets are evil and must be controlled

Governments should manage markets only in booms.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Free market economists believe increased G will push interest rates & taxes up. This is called ...

Crowding up

Crowding down

Croweding in

Crowding out

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Which phase of the economic cycle follows a recession?

Boom

Recovery

Downturn

Slump

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Trend growth is ...

the average rate of real GDP from recent years

the Government's target for the next few year

the current rate of economic growth

volatile

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