G9 Econ: Review Quiz for 1st Sem Exam

Which of the following persons makes macroeconomic decicions?

• a pilot of a reputable airline company

• the vice president of a country

• the boss of a chocolate factory

• a shareholder of a firm

Which of the following persons makes microeconomic decicions?

• the vice president of a country

• the boss of a chocolate factory

• the finance minister of the government

• the senators discussing about better taxation

What is most likely the cause of the shift in this supply curve?

• an increase in the tax on petrol

• an increase in the cost of manufacturing cars

• an decrease in the wages/salary of workers

• increase in the price of raw materials

What is the fundamental economic problem?

• surplus of goods

• reources are scarce

• introduction of new inventions

• companies not having income

Which factor of production below does not match its intended income?

• capital - interest

• enterprise - profit

• work - dividends

• land - rent

Which of the following is an aim of macroeconomics?

• full employment

• a business is functioning well

• better consumer advertisements

• supplying more computers

What is the effect if economy moves from point C to point D?

• different goods are produced

• resources are not used properly

• GDP goes down

• investment increases

How are resources used at point F?

• resources are used efficiently

• resources are not used efficiently

• there are not enough resources to be used

• resources are wasted

Look at the diagram. Equilibrium point is "X". Which point tells us the effect of an increase in the cost of producing cars while the country is experiencing economic growth?

• A

• B

• C

• D

Analyze the Graph. Which points show a case of disequilibrium?

• Q3-Q5

• Q1-Q3

• Q4-Q1

• Q2-Q5