Edexcel International A-level Economics Unit 4 Quiz

What is one of the causes of globalisation?

• Increased tariffs

• Technological advancements

• Decreased trade agreements

• Isolationist policies

Which of the following is a pattern of trade?

• Absolute poverty

• Public sector borrowing

• Trade liberalisation

• Market orientated strategies

What does the balance of payments refer to?

• The total value of exports

• The total value of imports

• The record of all economic transactions

• The level of public expenditure

Which term describes the difference between absolute and relative poverty?

• Specialisation

• Trade restrictions

• Public sector debt

• Inequality

What is a key component of macroeconomic policies?

• Trade agreements

• NGO involvement

• Foreign aid

• Taxation

Which strategy is NOT typically associated with promoting growth and development?

• Market orientated strategies

• Government-led strategies

• Isolationist strategies

• Role of international institutions

What is one of the effects of globalisation?

• Reduced trade barriers

• Decreased foreign investment

• Greater economic interdependence

• Increased local production

What is the primary cause of income inequality in developed countries?

• Tax policies

• Globalization

• All of the above

• Education disparities

Which economic theory emphasizes the role of government intervention in the economy?

• Supply-side economics

• Classical economics

• Keynesian economics

• Monetarism

What is the term for a sustained increase in the general price level of goods and services?

• Stagflation

• Inflation

• Hyperinflation

• Deflation