Balance Of payments means-

Transactions between 1 country and the rest of the world.

What is the correct measurement for inflation?

Rate of change of the consumer price index over a year

Formula for capacity utilisation is-

current output/potential output x 100

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Economics Theme 2 Edexcel AS+Alvl- Macroeconomic Objectives & Productivity.

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A #economics quiz focusing on Macroeconomic Objectives and Productivity (Lean Production). #Edexcel #AS #A-level

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Questions 16

Answers

1
What Does TQM Stand For.
Taxed Quantity For Market
Total Quartile Money
Total Quantity Managment
Total Quality Managment
2
JIT stands for-
Just Indirect Taxation
Just In Time Production
Just In Timberlake
Job's Income Tax
3
When inflation is below 0 it is known as?
Both
Deflation
Negative Inflation
4
Which of these is not one of the 4 main macroeconomic objective?
Balance Of Payments
Profits
Steady inflation
Low Unemployment
5
Balance Of payments means-
Employee Wages against Companys Profits.
Costs compared to revenue
Transactions between 1 country and the rest of the world.
Bank loans
6
Kaizen is the Japanese term for...
Continuous Improvement
Efficiency
Adding Management Layers
New Capital Production Methods
7
What is the correct measurement for inflation?
Rate of change in oil prices
Agrregate demand
Rate of change of the consumer price index over a year
Rate of change in all goods prices
8
Which one of these is not a factor of Lean Production.
Cell Production
Wages
Just-In-Time
Kaizen
9
Formula for capacity utilisation is-
current output - potential output
current output - potential output x 100
current output/potential output
current output/potential output x 100
10
When Efficiency increases...
Supply Will Decrease
Demand Will Increase
Supply Will increase
Demand Will Decrease
11
Checking a product for signs of defects or poor quality is known as-
Warranty
Quality Managment
Quality
Quality Control
12
What is the correct measurement of economic growth?
Population
Rate of growth of real GDP.
Tax income
Aggregate Demand
13
Hyperinflation is inflation at a high rate, which country suffers from this Currently?
Greece
Venezuela
Pakistan
Japan
14
Which factor is seen as the most positive macroeconomic objectives.
Unemployment
Balance Of Payments
Economic Growth
Inflation
15
Which of these do not effect productivity
Managment Skills
Prices
New Technology
Investment
16
What is the UK's Target Inflation Rate.
-2%
1%
0%
2%

Economics Theme 2 Edexcel AS+Alvl- Macroeconomic Objectives & Productivity. Flashcards | StudBud