Economic Policy and Governance Quiz
Test your knowledge with 10 questions on fiscal & monetary policy, economic systems, GDP, inflation, and more!
#1
Which of the following is a primary goal of economic policy?
Achieving full employment
Maximizing profits for corporations
Minimizing government intervention
Reducing income inequality
#2
Which organization is responsible for regulating monetary policy in the United States?
The Federal Reserve
The World Bank
The International Monetary Fund
The Securities and Exchange Commission
#3
What is the term used to describe the situation when the government spends more money than it collects in revenue?
Budget surplus
Budget deficit
National debt
Trade deficit
#4
In economics, what does GDP stand for?
Gross Domestic Production
Gross Domestic Profit
Gross Domestic Product
Gross Domestic Prosperity
#5
Which of the following is a measure of price inflation?
Consumer Price Index (CPI)
Producer Price Index (PPI)
Gross Domestic Product (GDP)
Unemployment Rate
#6
What is fiscal policy primarily concerned with?
Regulating the money supply
Influencing aggregate demand and economic activity through government spending and taxation
Controlling inflation rates
Managing international trade agreements
#7
Which economic theory advocates for minimal government intervention in the economy?
Keynesian economics
Monetarism
Classical liberalism
Marxian economics
#8
What is the purpose of monetary policy?
Stabilizing the stock market
Regulating international trade
Influencing interest rates and money supply to control inflation and stimulate economic growth
Determining government spending priorities
#9
Which of the following is NOT a characteristic of a market economy?
Private ownership of resources
Centralized planning by the government
Consumer sovereignty
Profit motive
#10
What is the term for a situation in which a country's imports exceed its exports?
Trade surplus
Trade deficit
Balance of payments
Current account surplus
Sign In to view more questions.
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.
Popular Quizzes in Policy Analysis
Popular Quizzes in Economics
Report