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Macroeconomics Quiz

Authored by Gitika Sehgal

Other

2nd Grade

Used 3+ times

Macroeconomics Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which approach to calculating national income focuses on the total income earned by individuals and businesses?

Income approach

Output approach

Expenditure approach

Consumption approach

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sector includes government spending in the circular flow of income and wealth?

Financial sector

Government sector

Foreign sector

Product market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the circular flow of income and wealth, households are primarily responsible for:

Supplying goods and services

Consuming goods and services

Managing government expenditures

Regulating the financial market

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the context of national income estimation, what does GDP stand for?

Gross Disposable Product

General Demand Protocol

Gross Domestic Product

Government Development Plan

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sector represents the flow of goods and services from businesses to households in the circular flow model?

Financial sector

Government sector

Foreign sector

Product market

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a method used for calculating national income?

Income approach

Output approach

Expenditure approach

Individual consumer behavior approach

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does macroeconomics study?

Individual consumer behavior

Aggregate economic phenomena

Microeconomic principles

Market equilibrium

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