
National Income and Economic Policies Quiz

Quiz
•
Financial Education
•
12th Grade
•
Easy
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.
Describes the GDP of a country
The total value of goods and services produced by a country
Not related to national income accounts
The balance of trade
Represents the income-expenditure model equation
The formula Y = C + I + G + NX
Refers to the difference between exports and imports
The interest rates set by the Federal Reserve
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) .
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) .
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
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