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Economics Quiz

Authored by Keryn Staff

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12th Grade

Economics Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary concern of economies?

Achieving macroeconomic objectives

Increasing unemployment rate

Maintaining price stability

Improving the standard of living

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does full employment indicate?

Non-zero, low rate of unemployment

High rate of unemployment

Involuntary unemployment for all jobseekers

Excess supply of labour

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is unemployment rate calculated?

Percentage of employed persons to the labour force

Percentage of job vacancies to the labour force

Percentage of unemployed persons to the labour force

Percentage of labour force to the total population

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main cause of demand-deficient unemployment?

Rise in aggregate demand

Increase in labour productivity

Fall in demand for final goods and services

Rise in labour supply

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of unemployment occurs when there is a mismatch of skills between the unemployed and job opportunities?

Frictional unemployment

Structural unemployment

Disequilibrium unemployment

Equilibrium unemployment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main cause of frictional unemployment?

High costs of moving

Imperfect information in the labour market

Technological advancements

Resistance to change

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the effects of unemployment on consumers?

Increase in standard of living

Decrease in crime levels

Positive correlation with mental illnesses

Fall in material living standards

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