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WorksheetsA2 Business Economics
Total questions: 20
Worksheet time: 25mins
Most countries try to maintain an inflation rate of ______ per year.
One percent or less
Two to three percent
Four to five percent
Six to seven percent
The _______ considers the weighted averages of a group of consumer goods and services.
Consumer price index
Aggregate supply
Producer price index
Aggregate demand
What is an exchange rate?
The rate at which goods are exchanged between two countries
The price of one nation's currency in terms of another's
How many US dollars you can exchange for RMB at Travelex
The price of goods in terms of a foreign currency
According to the table, what is the Euro equivalent of 1 USD?
1.32 Euros
0.53 Euros
.76 Euros
1.59 Euros
According to the table, what is the USD equivalent of 1 Australian?
0.97 USD
1.32 USD
1.28 USD
1.03 USD
If the AUD were to appreciate in the relation to the USD, what effect would this have?
Australian imports become cheaper.
Australian exports become more expensive to American buyers.
Australian imports become more expensive.
Australian exports become less expensive to American buyers.
What is the aim of contractionary monetary policy?
Stimulate the economy
Encourage people to buy more, increasing inflation
Lower demand and reduce inflation
Raise employment levels
Which of these is a fiscal policy tool?
Interest rates
Exchange rate
Money supply
Taxation
The graphs show how consumer prices and real GDP changed in a country between 1995 and 2005. Which conclusion may be drawn from the graphs?
Living standards remained roughly constant between 1995 and 2005.
The level of GDP was lower in 2005 than in 2000.
The country experienced continuous economic growth between 1995 and 2005.
The price level fell between 2000 and 2003.
What is a tariff?
Tax on imported goods
To stop trading with a business or country
A limit on imported goods
A quota is a limit on an imported good. Which is an example of a quota helping local farmers?
Taxing corn from another country.
Allowing less corn to be bought from other countries' farms.
To stop buying corn from another country
Russian government found deadly chemicals in German hamburgers. What will keep Russians safest?
An embargo against German hamburger meat producers
A tariff on German hamburgers
A quota on German hamburgers
Free trade with German hamburger producers
What does BRICS stand for?
Brazil, Russia, Indonesia, China, South America
Brazil, Russia, India, China, South America
Brazil, Russia, India, China, South Africa
Brazil, Romania, India, China, South America
What are the six elements of PESTLE?
Peace, Elements, Search, Tape, Legal, and Environment
Power, Environment, Science, Teaching, Legal, and Education
Paper, Element, Savings, Trust, Labels, and Entry
Political, Economic, Social, Technological, Legal, and Environmental
