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Circular Flow and Trade Balance

Authored by Jack Sweeney

Business

10th Grade

Used 3+ times

Circular Flow and Trade Balance
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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the circular flow model, what is the primary role of households?

To consume goods and services and provide factors of production

To produce goods and services

To consume goods and services and provide labour to the firms sector

To control inflation and interest rates

2.

LABELLING QUESTION

1 min • 1 pt

Label the sectors of the Circular flow model.

a
b
c
d
f
Financial
Firms
Household
Business
Trade
Government
Overseas

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happens when injections (investment, government expenditure, and exports) exceed leakages (savings, taxes, and imports)?

The economy shrinks

Unemployment increases

The exchange rate drops

The Economy Grows

4.

DRAG AND DROP QUESTION

1 min • 1 pt

The financial sector in the circular flow model is responsible for managing​ the flow of​ (a)   and​ Investments .

savings
collecting taxes
implementing laws
exports
imports

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Reserve Bank of Australia (RBA) carries out which policy?

Fiscal Policy

Union Policy

Monetary Policy

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If the Government spends more than it receives in taxes, this is called a _____

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How do imports affect the circular flow in the Australian economy?

They act as a leakage by sending money out of the economy

There is no impact on the economy

They act as an injection into the economy

It creates more jobs in the firms sector

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