#1
Which of the following is a form of economic interventionism?
Free market economy
Command economy
Laissez-faire capitalism
Fiscal policy
#2
What is the primary goal of fiscal policy?
Stabilizing prices
Controlling money supply
Regulating interest rates
Stimulating economic growth
#3
In which market structure does a single firm dominate the entire market?
Monopolistic competition
Oligopoly
Monopoly
Perfect competition
#4
What term describes the situation when a government imposes trade restrictions to protect domestic producers?
Subsidy
Protectionism
Free trade
Tariff
#5
Which of the following is NOT a component of GDP?
Consumption
Government spending
Imports
Investment
#6
What is the term used to describe the total market value of all final goods and services produced within a country in a given period of time?
GNP (Gross National Product)
GNI (Gross National Income)
GDP (Gross Domestic Product)
GNH (Gross National Happiness)
#7
Which of the following is a measure of income inequality within a country?
Gini coefficient
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Unemployment rate
#8
In market economies, what role does the government typically play?
Directly controlling all production
Setting prices for goods and services
Regulating certain aspects of the economy
Owning all means of production
#9
Which of the following is an example of a monetary policy tool?
Tariffs
Quantitative easing
Minimum wage laws
Subsidies
#10
What is the term used to describe the maximum price that can be charged for a good or service?
Price ceiling
Price floor
Market equilibrium
Market surplus
#11
Which of the following is NOT a characteristic of a perfectly competitive market?
Numerous buyers and sellers
Homogeneous products
Barriers to entry
Perfect information
#12
Which of the following is a characteristic of a monopolistic competition market structure?
High barriers to entry
Identical products
A few large firms dominating the market
Product differentiation
#13
Which of the following is an example of expansionary monetary policy?
Increasing interest rates
Decreasing government spending
Decreasing the money supply
Lowering interest rates
#14
What is the term used to describe the situation when the economy experiences a long period of high unemployment and stagnant economic growth?
Stagflation
Recession
Inflation
Deflation
#15
What is the purpose of antitrust laws in a market economy?
To encourage monopolies
To regulate competition and prevent monopolies
To minimize government intervention
To control fiscal policy