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WorksheetsMacroeconomics
Total questions: 10
Worksheet time: 9mins
If people are made unemployed because of a fall in aggregate demand this is known as:
Cyclical unemployment
Frictional unemployment
Inflation:
Always reduces the cost of living
Reduces the purchasing power of a pound
An increase in costs will
Shift aggregate demand
Shift aggregate supply
The Phillips curve shows the relationship between inflation and what?
Unemployment
GDP
Price level
Which of the following is a major influence on AS?
Consumption
The quality of the factors available
Government spending
which is the following statement is incorrect ?
there is equality income in economy
right to own property
a free market economy solves its central problem through
planning authority
market mechanism
both
right to own private property is found in
socialism
capitalism
mixed economy
Both B and C
When deciding "what to produce", what is said to be limited?
Resources
Population
A centrally planned economy promotes ...
Government ownership, competition, and no profit
Government ownership, profit, and no competition
