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Macro Economic Factors Flashcards | StudBud

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A recession is measured by?

<p>Which tax goes towards the state pension?</p>

Macro Economic Factors

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Economic Quiz

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Questions 10

Answers

1
<p>Which tax goes towards the state pension?</p>
National Insurance
Corporation Tax
Income Tax
VAT
2
A recession is measured by?
How people feel (eg. happy or sad)
General fall in the level of income
<p>One quarter of GDP falling</p>
Two quarters of GDP falling
3
Demand Pull inflation can be described as:
<p>Prices go up because of a change in interest rates</p>
Prices increase because of high income
Business put prices up because high demand
Business Put there price up due to costs
4
A strong pound is good for
Importers
Exporters
Consumers with high savings
MNC's
5
If Interest rates are high in terms of exchange rates
It has no effect
Demand for the £ is low
Demand for the £ is high
Business are likely to save
6
Austerity is best decribed as:
Increasing taxes to fund public services
Using Tax revenue to pay of national debt
<p>Changing what tax revenue is spent on</p>
Spending your way out of recession
7
Cyclical Unemployment is:
due to industries declining
Occurs when people are bewtween jobs
Is linked to the Business Cycle
<p>Is due to seasonality</p>
8
An increase in the general level of prices over time is the definition for:
Inflation
GDP
Interest Rate
Deflation
9
In which part of the Business Cycle will Unemployment be at its lowest?
SLUMP
BOOM
RECOVERY
RECESSION
10
Monetary Policy is using what to influence the economy
Tax
Exchange Rates
Interest Rates
Inflation