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Economic Concepts Quiz

Authored by umabijoy cep

Engineering

University

Used 2+ times

Economic Concepts Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of the household sector in the economy?

Exporters of goods

Government welfare agency

Producers of goods and services

Consumers of goods and services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered an intermediate good?

A car

A loaf of bread

A television

Steel used in construction

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Gross Demand Product

General Domestic Product

Gross Development Product

Gross Domestic Product

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT included in the calculation of national income?

Final goods

Profits earned by companies

Intermediate goods

Wages paid to workers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for calculating Net National Product (NNP)?

GNP + Depreciation

GDP - Indirect Taxes

GNP - Depreciation

GDP + Net Factor Income

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a type of inflation characterized by a price rise of less than 3% per annum?

Walking Inflation

Hyper Inflation

Creeping Inflation

Running Inflation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of the capital market?

To control inflation

To provide short-term funds

To facilitate long-term capital raising

To manage government expenditure

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