Understanding Economic Concepts

Understanding Economic Concepts

11th Grade

10 Qs

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Understanding Economic Concepts

Understanding Economic Concepts

Assessment

Quiz

Other

11th Grade

Practice Problem

Hard

Created by

Abhi shek

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is inflation?

Inflation is the decrease in prices and increase in the purchasing value of money.

Inflation is the increase in prices and fall in the purchasing value of money.

Inflation refers to the total amount of money in circulation without any price changes.

Inflation is the process of reducing the money supply to stabilize prices.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is deflation?

Deflation is the decline in prices for goods and services.

Deflation is the increase in prices for goods and services.

Deflation refers to the rise in unemployment rates.

Deflation is the process of printing more money.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a component of GDP?

Investment

Government Spending

Consumption

Net Exports

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Gross Domestic Product

Global Domestic Product

General Domestic Product

Gross National Product

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary tool of monetary policy?

Currency exchange rates

Government spending

Tax rates

Interest rates

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is fiscal policy primarily concerned with?

International trade agreements

Government spending and taxation decisions

Monetary policy and interest rates

Regulatory policies on businesses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of unemployment is caused by economic downturns?

Cyclical unemployment

Seasonal unemployment

Frictional unemployment

Structural unemployment

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