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A level Economics Christmas Quiz Flashcards | StudBud
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A level Economics Christmas Quiz
A level Economics Christmas Quiz
15 terms
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StudBud Administration
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AS A2 economics - macro topics
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Supply side policy is?
Increasing the amount of food grown in the UK
An increase in the money supply to increase investment
Improving the productive potential of the economy
A decrease or decrease in ££s to reduce the exchange rate
2
What does the Current Account of the Balance of Payments NOT measure?
Foreign direct investment
the Government's budgets
'Hot money'
Trade in goods and services
3
Who was not one of Father Christmas' orginal reindeer?
Rachel
Rudolph
Ralph
Reggie
4
What is a 'free floating' exchange rate?
An exchange rate that is determined by S and D for currency
An exchange rate determined by D and S of goods and services
An exchange rate that is determined by the Bank of England
An exchange rate that can swim
5
Who is the Chancellor of the Exchequer?
Philip Hammond
Mark Carney
Philip Schofield
Richard Hamond
6
Which of the following is the preferred measure of inflation?
RPI
OMG
CPI
RIP
7
What is the 'exchange rate'?
The value of one currency in terms of another
The purchasing power of a currency
A measure of inflation
The queue length when you return unwanted Christmas gifts
8
What is the correct list of elements of fiscal policy?
Taxation, exchange rate
Taxation, government spending
Taxation, government spending & borrowing
Taxation, government borrowing
9
Which is the correct definition of 'aggregate demand'?
C + I + G - (X+M)
C + I + G + (X-M)
C + I + G + X-M
C + I + G - (X-M)
10
What is 'marginal propensity to save'?
the proportion of additional income saved
income elasticity of saving
the proportion of additional income spent
additional income
11
Which of the following is not a government objective?
employment
inflation
balance of payments
budget surplus
12
Which is likely to be the higher measure of unemployment?
Claimant count
Those queuing outside the Job Centre
People watching 'Jeremy Kyle Show'
Labour Force Survey
13
What is a trade off?
Swapping Christmas gifts with your sibling
Swapping sprouts for carrots
Conflict between the Government's objectives
Conflict over what to watch on TV on Christmas Day
14
What is a positive output gap?
Inflation above the target rate
Growth above the trend line
Growth below the trend line
Inflation below the target rate
15
Which of the following identifies all the possible injections into an economy?
investment, imports, government spending
investment, imports, saving
investment, exports, government spending
saving, imports, government spending
