Economics Quiz

Economics Quiz

12th Grade

7 Qs

quiz-placeholder

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Economics Quiz

Economics Quiz

Assessment

Quiz

Other

12th Grade

Practice Problem

Hard

Created by

Paul Higgins

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7 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

Decide which statements below refer to the following descriptions and put them into the correct row in the table: • Low and steady inflation; • Lower interest rates; • Raise interest rates; • The Monetary Policy Committee of the Bank of England; • The manipulation of interest rates and the money supply achieve macroeconomic objectives; Statement Description A definition of monetary policy Responsible for setting interest rates An expansionary monetary policy A contractionary monetary policy What macroeconomic objectives monetarists regard as the most significant

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the difference between product and labour markets?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

Why does reducing rates of income tax increase the supply of labour?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

The introduction of the ............... wage will encourage workers to take jobs they previously would not have taken.

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

The ............... of various large state run industries was designed to encourage competition.

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

A ............... labour market is one that can quickly clear surpluses or shortages.

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

............... rates of corporation tax will allow firms to keep more of their profits and also encourage higher levels of capital ................

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