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Year 10 Economics Test Revision 1

Authored by Asher Fryer

Social Studies

10th Grade

Used 1+ times

Year 10 Economics Test Revision 1
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP measure?

The total market value of goods and services produced in a country

The number of people in work

The total exports of a country

The amount of money people earn in a week

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is inflation?

An increase in the general level of prices

A decrease in the value of exports

An increase in wages

A fall in the number of jobs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the CPI measure?

The number of new businesses each year

The cost of a set “basket” of goods and services over time (inflation)

The value of imports

The amount of goods a factory makes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of structural unemployment?

A fruit picker out of work after the season ends

A shop assistant between jobs

A worker replaced by a machine

A builder unemployed during a recession

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a problem with using GDP to measure living standards?

GDP includes inflation rates

GDP does not show inequality or environmental damage

GDP always changes each year

GDP measures imports and exports separately

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If prices go up but wages stay the same, what happens to the amount of goods you can buy?

They increase

They decrease

They stay the same

They become unpredictable

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which three factors are included in the HDI?

Life expectancy, education, income

Life expectancy, inflation, imports

GDP, exports, imports

Education, inflation, unemployment

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