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WorksheetsYear 10 Economics - Wk 3
Total questions: 11
Worksheet time: 6mins
Which of the following is not a phase of the Business Cycle?
Boom/Peak
Upswing/Expansion
Pit/Trench
Downswing/Contraction
The Business Cycle is an economic model modelling which economic indicator?
Economic Growth
Living Standards
Inflation Rate
Unemployment Rate
Which of the following IS a characteristic of the Boom/Peak phase of the Business Cycle?
Rising Unemployment
Decreasing Inflation
Low Demand
Full Employment
What is GDP per capita?
GDP divided by the number of businesses
The GDP of a nation
GDP divided by the population
The GDP accounting for inflation
Which of the following does GDP not account for?
(Select all that apply)
Environmental Quality
Level of Healthcare
Consumption of Goods and Services
Inequality
What does QoL stand for?
Quality of Living
Quality of Life
Quality of Livestock
Quality of Learning
What does HDI stand for?
Highly Developed Industry
Human Developing Interestingly
Human Development Index
Highly Developed Investment
During an economic contraction, we would expect the quality of life of a nation to:
Increase
Decrease
Stay the same
What's a contraction?
In the circular flow of income model, the government sector serves as a link between what:
Savings and Investment
Imports and Exports
Consumption and Output
Taxation and Government Spending
What is meant by the term equilibrium?
Leakages more than injections
Injections more than leakages
Leakages equal injections
There are no leakages and injections
How are you understanding economics so far?
I'm going really well
I'm going okay
I am getting some of it
I need some more revision
