#1
Which of the following is considered a lagging indicator in economics?
Unemployment rate
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Stock prices
#2
What does GDP stand for?
Gross Domestic Product
Global Distribution Pattern
Government Development Program
General Debt Provision
#3
What does the term 'inflation' refer to in economics?
Decrease in the general price level of goods and services
Stability in the general price level of goods and services
Increase in the general price level of goods and services
Absence of price changes in the economy
#4
Which of the following is NOT a leading economic indicator?
Average weekly hours worked by manufacturing employees
New orders for consumer goods
Building permits for new private housing
Unemployment rate
#5
Which of the following is NOT a measure of economic inequality?
Gini coefficient
Consumer Price Index (CPI)
Income quintile ratio
Palma ratio
#6
What does the term 'trade deficit' mean?
When a country exports more goods than it imports
When a country's imports exceed its exports
When a country's exports and imports are equal
When a country has no trade relations with other nations
#7
What does the term 'stagflation' refer to?
A period of high inflation and low economic growth
A period of high economic growth and low inflation
A period of stable prices and moderate economic growth
A period of recession and deflation
#8
Which of the following is NOT a component of the Consumer Price Index (CPI)?
Food and beverage
Housing
Government spending
Transportation
#9
What does the term 'capital flight' refer to in economics?
A sudden increase in foreign investment
The movement of financial assets out of a country
Government intervention in financial markets
A decrease in interest rates
#10
Which of the following is a measure of a country's external debt?
GDP per capita
Budget deficit
Current account balance
Debt-to-GDP ratio
#11
Which of the following is not a component of GDP?
Government spending
Exports
Imports
Investment
#12
What does the Gini coefficient measure?
Income inequality
Unemployment rate
Growth rate of GDP
Inflation rate
#13
What does the term 'Fiscal Policy' refer to in economics?
Government's control over the money supply
Government's decisions on taxation and spending
Regulation of interest rates by the central bank
Central bank's buying and selling of government securities
#14
Which organization publishes the World Economic Outlook report?
World Trade Organization (WTO)
International Monetary Fund (IMF)
World Bank
Organisation for Economic Co-operation and Development (OECD)
#15
Which of the following is NOT a component of Aggregate Demand (AD)?
Consumption
Investment
Government spending
Imports
#16
What is the Phillips Curve used to describe?
The relationship between inflation and unemployment
The relationship between interest rates and investment
The relationship between government spending and economic growth
The relationship between savings and investment
#17
What is the primary function of the Federal Reserve System?
Fiscal policy formulation
Monetary policy implementation
Taxation
Government spending
#18
Which of the following is an example of expansionary fiscal policy?
Increasing government spending and decreasing taxes
Decreasing government spending and increasing taxes
Decreasing the money supply
Raising interest rates
#19
What does the term 'quantitative easing' refer to?
A fiscal policy aimed at reducing inflation
An expansionary monetary policy involving the purchase of financial assets
A trade policy to promote exports
An agreement between central banks to stabilize exchange rates
#20
Which of the following is NOT a characteristic of a recession?
Decline in GDP
Increase in unemployment
Rising consumer spending
Decrease in business investment
#21
Which country has the largest GDP (nominal) as of the latest available data?
China
United States
India
Japan
#22
What is the main objective of the Purchasing Managers' Index (PMI)?
To measure consumer sentiment
To track changes in the cost of living
To gauge business activity and sentiment
To monitor changes in interest rates
#23
Which of the following is NOT a criterion for being classified as a 'developed country'?
High GDP per capita
Advanced technological infrastructure
High Human Development Index (HDI) score
Large agricultural sector
#24
What is the Bretton Woods system?
A global trade agreement
An international monetary system established after World War II
A system of fixed exchange rates
An organization focused on environmental protection
#25
What is the term used to describe a situation where the price level rises persistently over time?
Deflation
Hyperinflation
Disinflation
Stagflation