Economic Goals Quiz

Test your knowledge on economic goals, fiscal and monetary policies, GDP, and more. Explore key concepts in macroeconomics!

#1

Which of the following is not considered one of the primary economic goals?

Full employment
Price stability
Income inequality
Economic growth
#2

Which economic goal aims to ensure that the standard of living of a population is improving over time?

Price stability
Economic growth
Full employment
Income equality
#3

Which economic goal focuses on maintaining a stable level of prices in an economy?

Full employment
Price stability
Economic growth
Income inequality
#4

Which of the following is NOT a factor of production in economics?

Land
Labor
Money
Capital
#5

Which of the following is NOT a characteristic of a market economy?

Centralized planning
Private ownership of resources
Profit motive
Free market competition
#6

What is the primary goal of fiscal policy?

Stabilize prices
Promote economic growth
Regulate money supply
Control interest rates
#7

Which economic goal focuses on ensuring that resources are used efficiently to produce goods and services?

Full employment
Price stability
Economic efficiency
Economic growth
#8

Which economic indicator is commonly used to measure income inequality?

Consumer Price Index (CPI)
Gini coefficient
Gross Domestic Product (GDP)
Unemployment rate
#9

What is the primary tool used by central banks to implement monetary policy?

Fiscal policy
Exchange rate controls
Interest rates
Income taxes
#10

Which of the following is an example of a supply-side policy aimed at achieving economic goals?

Decreasing income taxes
Increasing government spending
Raising the minimum wage
Lowering interest rates
#11

What term describes a situation where the economy's production is operating at its maximum potential?

Recession
Stagnation
Full employment
Depression
#12

What is the main objective of monetary policy?

Achieve full employment
Control government spending
Regulate money supply and interest rates
Promote international trade
#13

Which of the following is not a characteristic of a developed economy?

High income per capita
High levels of industrialization
High unemployment rates
Advanced technological infrastructure
#14

Which of the following is a long-term economic goal aimed at improving the quality of life and well-being of a society?

Economic growth
Income equality
Sustainable development
Price stability
#15

Which economic theory suggests that government intervention is necessary to regulate economic activity and achieve stability?

Classical economics
Monetarism
Keynesian economics
Supply-side economics
#16

What is the term used to describe a situation where the rate of inflation slows down?

Hyperinflation
Stagflation
Deflation
Disinflation

Sign In to view more questions.

Sign InSign Up

Quiz Questions with Answers

Forget wasting time on incorrect answers. We deliver the straight-up correct options, along with clear explanations that solidify your understanding.

Test Your Knowledge

Craft your ideal quiz experience by specifying the number of questions and the difficulty level you desire. Dive in and test your knowledge - we have the perfect quiz waiting for you!

Other Quizzes to Explore