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- 1. Multiple ChoiceWhich of these is not a major macroeconomic objective of governments?Low and stable inflationIncreasing pofitability of companiesFull employmentHigh and sustainable growth
- 2. Multiple ChoiceThe four government objectives are low inflation, low unemployment, balance of payments andSafe defence spendingEconomic growthHigh interest ratesLow tax revenue
- 3. Multiple ChoiceWhich one of the following is not part of the business cycle?GrowthSlumpRecessionMaturity
- 4. Multiple ChoiceWhat type of policy is the use of interest rates to control the economy?demand side policyfiscal policyinsurance policymonetary policy
- 5. Multiple ChoiceWhat should the government do to the value of £ to increase exports and economic growth?Increase the value of the pound (appreciation)Decrease the value of the pound (depreciation)Revaluation of the poundNone of the above
- 6. Multiple ChoiceWhich of the following would be an expansionary fiscal policy (increasing economic growth)?lowering income taxraising the value of £printing moneylowering government expenditure (spending)
- 7. Multiple ChoiceWhich of the following would be an expansionary monetary policy (increase in economic growth)?raising wages of prison staffraising interest rateslowering interest rateslowering government spending
- 8. Multiple ChoiceIncome tax is adirect taxvoluntary taxindirect taxsales tax
- 9. Multiple ChoiceWhich of the following products will be most likely affected by an increase in income tax?PetrolSaltJewelleryBread
- 10. Multiple ChoiceWhich of the following is a Direct Tax?Excise DutyImport TariffValue Added TaxCouncil Tax
- 11. Multiple ChoiceOne way to measure economic growth is tocount the number of businesses in a countrycompare GDPmeasure the number of imported goods coming into a countrycompare interest rates
- 12. Multiple ChoiceWhich one of the following is NOT a supply side policy?the government increasing competition in all industriesthe government reducing import controlsthe government investing in training and educationthe government privatising national industries
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