#1
Which of the following is not considered a leading economic indicator?
Stock market performance
Consumer price index (CPI)
Unemployment rate
Building permits
#2
What does GDP stand for in economics?
Gross Domestic Product
General Development Process
Global Demand Projection
Government Debt Percentage
#3
In the context of international trade, what does the acronym NAFTA stand for?
North Atlantic Free Trade Agreement
North American Free Trade Agreement
National Association of Foreign Trade Authorities
New Age Financial Trading Alliance
#4
Which economic concept is measured by the Gini coefficient?
Inflation
Income Inequality
Gross Domestic Product (GDP)
Employment Rate
#5
Which economic system relies on the forces of supply and demand to determine prices and resource allocation?
Socialism
Capitalism
Communism
Feudalism
#6
Which economic indicator is often referred to as the 'Misery Index'?
Inflation Rate
Unemployment Rate
Gini Coefficient
Poverty Rate
#7
What does the term 'stagflation' refer to in economics?
Rapid economic growth
High inflation combined with high unemployment
Steady inflation and low unemployment
Economic recession
#8
What is the Phillips Curve used to analyze in economics?
Fiscal Policy
Monetary Policy
Inflation and Unemployment trade-off
Income Distribution
#9
What is the primary function of the World Bank?
Providing monetary assistance to developing countries
Regulating global financial markets
Promoting international trade agreements
Issuing global currency
#10
In economics, what does the term 'opportunity cost' represent?
The cost of production inputs
The cost of forgoing the next best alternative
The cost of government spending
The cost of inflation
#11
Which economist is known for the theory of comparative advantage in international trade?
John Maynard Keynes
Milton Friedman
Adam Smith
David Ricardo
#12
What is the Triffin Dilemma in international economics?
Dilemma faced by central banks regarding interest rates
Dilemma related to global imbalances and the role of the U.S. dollar
Dilemma in fiscal policy formulation
Dilemma in trade negotiations
#13
What is the Laffer Curve in economics often used to illustrate?
Relationship between inflation and unemployment
Tax revenue and tax rates
Demand and supply equilibrium
Foreign exchange rates
#14
Which organization is responsible for issuing the world's reserve currency?
International Monetary Fund (IMF)
World Trade Organization (WTO)
Bank for International Settlements (BIS)
Federal Reserve System
#15
In macroeconomics, what does the term 'crowding out' refer to?
Increased government spending leading to higher interest rates and reduced private investment
Decreased consumer spending due to rising prices
Expansionary monetary policy causing inflation
Decreased government spending leading to economic recession