National Income and Economic Policies Quiz

National Income and Economic Policies Quiz

12th Grade

7 Qs

quiz-placeholder

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National Income and Economic Policies Quiz

National Income and Economic Policies Quiz

Assessment

Quiz

Financial Education

12th Grade

Easy

Created by

Tracy Bowers

Used 1+ times

FREE Resource

7 questions

Show all answers

1.

MATCH QUESTION

30 sec • 1 pt

Match the following descriptions with their corresponding National Income Accounts Identity components.

Represents the income-expenditure model equation

The balance of trade

Describes the GDP of a country

The total value of goods and services produced by a country

Not related to national income accounts

The interest rates set by the Federal Reserve

Refers to the difference between exports and imports

The formula Y = C + I + G + NX

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the study guide, what is the primary effect of an increase in autonomous consumption?

It decreases the national income

It has no effect on the economy

It increases the aggregate expenditure

It reduces government spending

3.

DRAG AND DROP QUESTION

30 sec • 1 pt

During recessionary pressures according to the Modern Crises Period 2007-2023, the Federal Reserve (a)   .

It decreases interest rates
It increases taxes
It reduces money supply
It increases interest rates

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the Aggregate Supply curve behave in oligopolistic markets according to the document?

It is perfectly elastic

It is downward sloping

It is vertical

It is very flat with a slight upward slope

5.

DROPDOWN QUESTION

30 sec • 1 pt

A significant consequence of the stability during the period mentioned in the text was (a)   .

Increased investment in technology
Deregulation of the financial syste
Reduction in international trade
Increased government spending

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What major economic issue emerged during the Great Recession according to the text?

A large output gap

A decrease in unemployment

An increase in consumer spending

Stability in the financial markets

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the text, how did policymakers respond to economic challenges after the Covid shock in 2020?

They were hesitant and slow

They reduced interest rates

They were very aggressive

They increased tax rates