#1
Which economic indicator measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services?
#2
What is the term used to describe a situation where the total value of a country's exports exceeds the total value of its imports?
#3
What is the economic term for a period of temporary economic decline during which trade and industrial activity are reduced?
#4
Which of the following is NOT considered a factor of production in classical economics?
#5
What is the economic term for a situation where the government spends more money than it collects in revenue?
#6
Which economic indicator measures the total value of all goods and services produced within a country's borders in a specific time period?
#7
Which economic theory suggests that the government should play a limited role in the economy and that free markets should govern economic activity?
#8
What is the term for the situation where a single supplier or producer controls the entire market for a product or service?
#9
What economic concept refers to the total value of all goods and services produced by a country within its borders in a specific time period?
#10
Which of the following is a characteristic of a perfectly competitive market?
#11
Who is often considered the father of modern economics due to his pioneering work in economic theory?
#12
What economic term refers to the total amount of money in circulation within an economy at a specific time?
#13
Which of the following is NOT a component of Gross Domestic Product (GDP)?
#14
According to the law of demand, what happens to quantity demanded when the price of a good increases, assuming all other factors remain constant?
#15
Which of the following is a primary goal of monetary policy?
#16
Which of the following is a measure of income inequality within a population?
#17