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Economics Quiz

Authored by Tim Newton

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12th Grade

Used 1+ times

Economics Quiz
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of Aggregate Demand?

The total sum of all demands and expenditures in the economy at any given price.

The total sum of all goods and services produced in the economy.

The total income of a nation from exports.

The total amount of savings in the economy.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Aggregate Demand is a measure of which of the following?

Consumer Confidence

National Income

Unemployment Rate

Inflation Rate

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

National Income is usually measured as:

GNP (Gross National Product)

NNP (Net National Product)

GDP (Gross Domestic Product)

NNI (Net National Income)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many components make up National Income?

Two

Three

Four

Five

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which formula represents the calculation of National Income or Aggregate Demand (AD)?

AD = C + I + G + (X + M)

AD = C + I + G + (X - M)

AD = C - I + G + (X - M)

AD = C + I - G + (X + M)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the 'C' in the Aggregate Demand formula AD = C + I + G + (X - M) stand for?

Consumption

Capital

Corporations

Currency

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is saving defined as in the context of income?

The amount of income spent on consumer durables

The amount of income spent on services

What is not spent out of income

The amount of income spent on consumables

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