#1
Which of the following is a measure of a country's economic health?
GDP per capita
Average rainfall
Population density
Number of languages spoken
#2
What does GDP stand for?
Global Demand Product
Gross Domestic Product
General Development Plan
Goods Distribution Process
#3
Which economic indicator measures the total value of goods and services produced within a country in a specific time period?
Gross National Income (GNI)
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Human Development Index (HDI)
#4
In economics, what does the acronym 'PPP' stand for?
Public-Private Partnership
Purchasing Power Parity
Price Performance Percentage
Productivity and Performance Policy
#5
What is the term used to describe a situation where the government spends more money than it receives in revenue?
Fiscal surplus
Fiscal deficit
Budget equilibrium
Budget surplus
#6
Which of the following is a characteristic of a recession?
High inflation
Rising GDP
Low consumer spending
Low unemployment
#7
Which economic measure reflects the percentage change in the general price level over a period?
Inflation rate
Unemployment rate
Interest rate
Exchange rate
#8
What is fiscal policy?
The central bank's regulation of money supply and interest rates
Government's use of taxation and spending to influence the economy
A policy aimed at promoting exports and restricting imports
A strategy to control inflation by reducing public spending
#9
What is a trade surplus?
When a country exports more goods than it imports
When a country imports more goods than it exports
When the government spends more than it collects in revenue
When a country's currency depreciates
#10
What does the term 'fiscal deficit' refer to?
When government revenue exceeds government spending
When government spending exceeds government revenue
When exports exceed imports in a country
When a country's currency strengthens
#11
What is the main objective of trade policy?
To increase government revenue through tariffs
To protect domestic industries from foreign competition
To promote free trade agreements with other countries
To control inflation through import restrictions
#12
What is the main factor that determines a country's comparative advantage in international trade?
Total production capacity
Resource endowment and technology
Population size
Government policies
#13
What is the main purpose of monetary policy?
To control government spending
To regulate the money supply and interest rates
To influence international trade
To promote economic equity
#14
What does the term 'stagflation' refer to?
A situation of high inflation and high unemployment combined with slow economic growth
A period of low inflation and high economic growth
A condition where inflation remains stable while economic growth declines
An economic boom characterized by low inflation and high employment
#15
What is the primary objective of supply-side economics?
To increase government spending
To reduce taxes and regulations to stimulate economic growth
To focus on controlling inflation through monetary policy
To redistribute wealth through social programs
#16
What does the term 'Laffer Curve' represent?
A graphical representation of the relationship between tax rates and tax revenue
A curve indicating the relationship between interest rates and investment
A measure of income inequality within a society
A curve showing the relationship between government spending and economic growth