#1
Which of the following best defines inflation?
1 answered
#2
What does GDP stand for?
1 answered
#3
What is the term for the total value of all final goods and services produced within a country in a given period?
1 answered
#4
Which of the following is a measure of the average level of prices of goods and services in an economy?
1 answered
#5
What does the term 'opportunity cost' refer to in economics?
1 answered
#6
What is the term for the total value of goods and services produced within a country in a specific time period?
1 answered
#7
What is the economic theory that suggests the government should not interfere with economic activities and markets?
1 answered
#8
What is the term for a market structure characterized by a large number of sellers and buyers of identical or similar products?
1 answered
#9
Which of the following is NOT a tool of monetary policy?
1 answered
#10
What is the term for a tax system where the tax rate decreases as the taxable amount increases?
1 answered
#11
Which of the following is not a factor of production?
1 answered
#12
What is the term for the situation where the quantity supplied of a good or service exceeds the quantity demanded?
1 answered
#13
What is the term for the measure of responsiveness of the quantity demanded of a good to a change in its price?
1 answered
#14
What is the name for the situation where a country can produce a good at a lower opportunity cost compared to another country?
1 answered
#15
In economics, what does the term 'moral hazard' refer to?
1 answered