BE (LO2) Part 1

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Education
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University
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Medium
marvie mupheed
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary objective of monetary policy?
Maximizing government revenue
Achieving price stability
Reducing government spending
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system relies on central planning and government control of the means of production?
Market economy
Command economy
Traditional economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main mechanism for resource allocation in a market economy?
Government directives
Central planning
Supply and demand in competitive markets
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of policy involves the use of government spending and taxation to influence economic activity?
Trade policy
Industrial policy
Fiscal policy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary objective of expansionary fiscal policy?
Controlling inflation
Reducing government debt
Stimulating economic growth
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, what serves as signals of scarcity and value?
Customary practices
Consumer preferences
Government regulations
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of policy is implemented during periods of economic expansion or inflation?
Monetary policy
Fiscal Policy
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