Regressive tax systems tend to...

make the distribution of income less equal.

Which is not a problem when using the Consumer Price Index to calculate inflation?

Cannot be weighted to determine importance

(Practice) How did Mr. Prior's big brother stop him from telling their parents he was smoking?

He pinned Mr. Prior down and forced him to smoke

What is the definition of direct taxes?

Taxes paid directly to the government tax authorities.

Which is an economic consequence of unemployment?

A loss of government revenue from tax., An increase in the number of stay at home mums and dads.

What is a cause of poverty?

Poverty, Low incomes, Geography (as in location, not the class)

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IB Econ HL Macroeconomic Objectives

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A quiz on parts of macroeconomic objectives in the IB economics HL course

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Questions 17

Answers

1
Regressive tax systems tend to...
exacerbate gender inequality.
make the distribution of income more equal
create a more regressive population.
make the distribution of income less equal.
2
Which of the following will not cause the aggregate supply curve to shift?
Productivity
Price Ceiling
Clicking me
Technology
3
Which is not a problem when using the Consumer Price Index to calculate inflation?
Does not reflect price changes for producers
Cannot be weighted to determine importance
Does not reflect purchases of all households
Does not reflect quality changes
4
What is the name of this curve?
Phillips Curve
Lorenzo Curve
Average Cost Curve
The Curve
5
Inflation helps _________
Borrowers
Fixed income earners
Savers
Exporters
6
What does CPI stand for?
Consumer Price Index
Consumer Price Identity
Constant Price Index
Crispy Pineapple Ice-cream
7
(Practice) How did Mr. Prior's big brother stop him from telling their parents he was smoking?
He pinned Mr. Prior down and forced him to smoke
Bought him some ice-cream
Threatened to throw away his favorite teddy bear
Gave him money
8
What is the definition of direct taxes?
Tax applied on the import of foreign goods.
Taxes on spending on goods and services.
Taxes paid directly to the government tax authorities.
Tax on farm cows' carbon emissions.
9
Which is an economic consequence of unemployment?
The increased consumption of weed.
An improvement in the distribution of income.
A loss of government revenue from tax.
An increase in the number of stay at home mums and dads.
10
What does this graph explain?
The 2008 Recession
The Wage-Price Spiral
The relationship between unemployment and income
The shape of the LRPC and SRPC
11
Which of these does the government try to keep as low as possible?
Sustainability
Unemployment
Inflation
Economic Growth
12
AD increases, creating an inflationary gap. What makes the AS go naturally to full employment?
Fiscal Policy
The Multiplier Effect
Wage-Price Spiral
Government Intervention
13
What is a cause of poverty?
Skilled human capital
Poverty
Low incomes
Geography (as in location, not the class)
14
Which is a market based supply side policy?
Investment in human capital
Deregulation
Building infrastructure
Investment in technology
15
What type of inflation is shown in the diagram?
Chronic Inflammation
Demand-pull Inflation
Cost-push Inflation
Trick question... there is no inflation.
16
The type of unemployment not included in official calculations is...
Structural
Seasonal
Underemployment
Frictional
17
What does this graph illustrate?
A decrease in production possibilities
An increase in production possibilities
The expansion of an elastic band
Non-parallel shifts of the PPC

IB Econ HL Macroeconomic Objectives Flashcards | StudBud