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22 questions
It is the use of government spending to affect the economy.
Fiscal policy
Monetary policy
Cutting or increasing taxes is an example of ...
Monetary policy
Fiscal policy
F
Fiscal Policy is the means by which the government keeps the economy stable through taxes and expenditures.
True
False
Institution whose financial obligations underlie an economy's money supply.
Government
Central Bank
The central bank regulates the monetary system.
True
False
Which of the following is a monetary policy action used to combat a recession?
cutting taxes
decreasing the money supply
increasing the money supply
Unemployment can be created when consumption and demand lessen.
True
False
Monetary and fiscal policies have to do with...
Macroeconomics
Microeconomics
Payment made by the government to help a producer to continue to operate is …
Subsidy
Tariff
Tax
Remittance
Which of these can shift the demand curve?
Change in Income
Change in Input
Change number of competitors
Change in Technology
What happens to demand and price of a product when the popularity increases?
Stays the same
Increases
Decreases
there is no demand for popular goods
When the number of sellers increases in an economy what increases?
Supply
Competition
Production
All of the above
Employment, gross domestic product, and inflation is:
Macroeconomics
Microeconomics
...is concerned with how supply & demand interact in individual markets for goods and services.
Microeconomics
Macroeconomics
Measure based on the overall cost of a fixed basket of goods and services bought by a typical consumer and it is also used to show inflation/deflation.
Gross Domestic Product GDP
Gross National Product GNP
Consumer Price Index CPI
Social Progress Index SPI
An indicator and concept that measures quality of life in a more holistic psychological and emotional terms.
Gross Domestic Product GDP
Social Progress Index SPI
Consumer Price Index CPI
Gross National Product GNP
The total market value of all final goods and services produced within the borders of a country.
Gross Domestic Product GDP
Gross National Product GNP
Consumer Price Index CPI
Social Progress Index SPI
What of the following is NOT consider by the GDP.
Earnings of residents or production outside the country
The value of the total goods and services produced
Government expenditure
National or International Investment
It is the state in which market supply and demand balance each other,
Surplus
Scarcity
Equilibrium
Market
The amount of money at which a product or service can be bought or sold.
price
input
income
market
The market price of a product or service is determined by the forces of supply and demand.
True
False
Monetary Policy is the use of interest rates by the central bank to keep the economy stable.
True
False
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