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WorksheetsIB term 1 revision
Total questions: 10
Worksheet time: 10mins
Which of the following would cause an increase in national income?
Fall in exports
Increase in government spending
Fall in interest rates
Increase in interest rates
Explain the difference between GDP and GNI
Which of the following would increase the Multiplier?
Fall in interest rates
Increase in highest rate of income tax
A fall in the value of the pound
An increase in consumer confidence
Which of the following would increase AD?
A fall in government spending
An increase in the interest rate
An increase in consumer confidence
An increase in tax revenue
Which of the following is a limitation of CPI as a measure of inflation?
The basket of goods is never representative of all households
An index is inevitably inaccurate
Surveys are likely to be filled in inaccurately
There is a timelag between the data collection and release of CPI figures
Someone looking for a job having been made redundant during a recession would count as
structural unemployment
cyclical unemployment
frictional unemployment
seasonal unemployment
Someone looking for a job having just left university
structural unemployment
cyclical unemployment
frictional unemployment
seasonal unemployment
Someone just been laid off from an iron foundry closed down in the UK counts as
structural unemployment
cyclical unemployment
frictional unemployment
seasonal unemployment
Which is the following is not a cost of economic growth
environment damage
rising inequality
higher standards of living
causes savings to be worth less
unsustainable use of resources
Why do we study Economics?
To change the world
To make tonnes of money
To become politicians
To tackle poverty and inequality
