Have an account?
Skip to Content
Build your own quiz
12 questions
Show Answers
See Preview
- 1. Multiple Choice
Select the factors that influence consumption (Choose 3)
Income levels
Consumer expectations
Weather
Availability of credit
Cost of Production
- 2. Multiple Choice
MPM stand for
Marginal Propensity to Import
Marginal Proximity Measure
- 3. Multiple Choice
Marginal propensity to consume (MPC) refers to...
The percentage of every extra Euro which is spent by a consumer
The percentage of every extra Euro which is saved by a consumer
The percentage of every extra Euro which is spent on imports by a consumer
- 4. Multiple Choice
The problem of double-counting occurs in the....
Output method
Expenditure method
Income method
Input method
- 5. Multiple Choice
The Income method measures
All output produced with a country within a year
All income earned by temporary residents of a country
All income earned by the permanent residents of a country
All expenditure within an economy within a year
- 6. Multiple Choice
Net Factor Income from the Rest of the World is included in
GDP
GNP
- 7. Multiple Choice
Gross Domestic Product includes the output of....
All Irish factors of production regardless of location
All output produced in Ireland regardless of nationality
- 8. Multiple Choice
Which of these are injections into the circular flow of income... (Choose 3)
Saving
Investment
Imports
Exports
Government Spending
- 9. Multiple Choice
A Recession is...
A period of economic decline of at least 10% decline in GDP
A period of negative economic growth lasting more than 6 months
A period of economic growth lasting less than 6 months
- 10. Multiple Choice
Identify the advantages of economic growth from the following options... (Choose 3)
Increased Employment
Improved standard of living
Increased wage demands
Increased incentive to invest
Inflationary pressures
- 11. Multiple Choice
The Multiplier Effect states that there will be
A more than proportionate increase in national income as the result of an injection
A less than proportionate increase in national income as the result of an injection
A more than proportionate increase in national income as the result of an withdrawal
A more than proportionate increase in injections as the result of an national income
- 12. Multiple Choice
The hidden economy is all economic activity...
Included in national income accounts
Which is illegal
Not included in national income accounts
Which is pure dodgy and shnakey and you'd have to be a chancer to attempt
- Answer choicesTagsAnswer choicesTags