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WorksheetsTheme 2 MACRO OBJ
Total questions: 15
Worksheet time: 8mins
Which of the following is NOT an injection into the circular flow of income?
Exports
Investment
Government expenditure
Savings
Which of the following is not a leakage or withdrawal from the circular flow of income?
Savings
Investment
Imports
Taxation
Which of the following is NOT a UK macroeconomic objective?
Low/mild inflation
economic growth
reduction in inequality
low unemployment
low taxation
The main measure of economic growth is Gross Domestic Product. Which of the following is the most accurate definition of GDP?
Total market value of a country's stock market
Total market value of all goods/services produced in a country in a year
Total market value of a country's housing market
Total market value of all goods/services produced in a country in 6 months
Total market value of all goods/services produced by a country including earnings from abroad in a year
In the second quarter of 2020 how much did the UK economy shrink by?
0.24%
2.4%
20.4%
200.4%
24.4%
Old MacDonald had a farm e-i e-i e-i-o and on that farm he had a pig e-i-e-i-e-i-o with an oink oink there and an oink oink there.........What does e-i-o stand for?
expenditure=interest rates=output
exchange rate=income=output
expenditure=income=outsourcing
expenditure=income=output
GDP per capita means GDP adjusted for........
inflation
population
income inequality
cost of living
income earnings from abroad
GDP at constant prices and real GDP means GDP adjusted for?
inflation
population
income distribution
unemployment
environmental degradation
One limitation of GDP per capita is that it does not account for........
inequality
output
income
expenditure
The rate of inflation in the UK as recorded in Nov 2020 was........
0.3%
3%
33%
13%
-0.3%
Inflation can be defined as......
A sustained rise in the general price level
A sustained fall in the general price level
A fall in the price of a weighted basket of goods
A rise in GDP
What is the name of the survey conducted in the UK to determine the annual 'weighted basket of goods'
Food and expenditure survey
Living costs and food survey
Labour force survey
commercial victimisation survey
Which of the following goods was add to the UK's 'weighted basket of goods' in 2019?
3 piece non-leather suites
washing powder
herbal tea
dry dog food
envelopes
Which of the following is NOT a limitation of CPI as a measure of inflation?
basket of goods not representative
no account for improvements in product quality
does not account for new products
adjusts for proportion of household income spent on good/service
Which one of the following people has the best dress sense?
Alan
Hugo
Gleb
Tom
