#1
Which of the following is not a factor influencing economic disagreements?
Inflation
Government Policies
Gravity
Exchange Rates
#2
What is the primary purpose of fiscal policy?
Controlling inflation
Managing monetary supply
Stabilizing the economy through government spending and taxation
Regulating interest rates
#3
Which economic system relies on private ownership of the means of production and market forces to allocate resources?
Socialism
Communism
Capitalism
Feudalism
#4
In the context of international trade, what is a 'tariff'?
A subsidy given to domestic producers
A tax imposed on imported goods
An agreement to promote free trade
A limit on the quantity of exported goods
#5
What is the primary function of the World Bank?
Promoting international trade agreements
Providing financial and technical assistance for development projects
Enforcing global economic sanctions
Regulating global currencies
#6
What economic concept refers to the total value of all goods and services produced by a country in a specific time period?
Gross Domestic Product (GDP)
Inflation Rate
Fiscal Policy
Supply and Demand
#7
Which economic theory suggests that government intervention in the economy should be minimal, and the market forces should determine economic outcomes?
Keynesian Economics
Monetarism
Classical Economics
Marxism
#8
Which of the following is considered a leading economic indicator?
Unemployment rate
Stock prices
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
#9
In international trade, what is the main purpose of the World Trade Organization (WTO)?
Promoting protectionism
Facilitating free trade and resolving trade disputes
Regulating global currencies
Enforcing labor standards
#10
What does the term 'opportunity cost' represent in economics?
The cost of production
The highest-valued alternative forgone when a choice is made
The total cost of goods and services
The cost of raw materials
#11
Which economic indicator is often used to assess the overall health of the labor market?
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Unemployment rate
Interest rates
#12
In the context of trade, what does the term 'protectionism' refer to?
Promoting free trade
Restricting imports
Encouraging globalization
Reducing tariffs
#13
Which economic indicator measures the average change in prices of a basket of goods and services over time?
Consumer Price Index (CPI)
Gini Coefficient
Human Development Index (HDI)
Producer Price Index (PPI)
#14
What economic concept is represented by the total value of a nation's exports minus its imports?
Balance of payments
Trade deficit
Current account surplus
Capital account balance
#15
According to the law of demand, what happens to the quantity demanded when the price of a good increases?
Increases
Decreases
Remains constant
No impact on quantity demanded
#16
What is the primary function of central banks in the economy?
Controlling fiscal policy
Issuing currency and regulating money supply
Setting interest rates
Managing trade agreements
#17
According to the law of diminishing marginal utility, what happens to the satisfaction gained from consuming an additional unit of a good as consumption increases?
Increases
Remains constant
Decreases
No impact on satisfaction