Economic Essentials Quiz

Froggy Jumps

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Test key concepts in growth, inflation, and unemployment.

Montex

Canada

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Economic Essentials Quiz


Froggy Jumps Economic Essentials QuizVersion en ligne Test key concepts in growth, inflation, and unemployment. par Montex 1 What is the formula for unemployment rate? a Labour force / Number unemployed × 100 b Unemployed people / Population × 100 c Number unemployed / Labour force × 100 2 Which unemployment type arises from changes in technology? a Frictional unemployment b Structural unemployment c Cyclical unemployment 3 Which policy is used to counter a recession (reflation)? a Reflationary fiscal policy b Austerity measures c Deflationary policy 4 Inflation is defined as a steady rise in the general price level. a True b Depends on the country c False 5 Name one of the four causes of inflation. a Demand-pull inflation b GDP inflation c Supply-shock inflation 6 What reduces frictional and structural unemployment through training? a Tax cuts b Trade barriers c Retraining programmes 7 HDI measures development using life expectancy, education, and income. a Only education b No c Yes 8 What does 'shoe leather costs' describe in inflation? a Costs of leather for shoes b Extra time/effort to find better prices c Price tag changes only 9 A recession is when total output falls for a period of time. a Only in developing economies b Yes c No 10 What causes demand-pull inflation? a Wage-price spiral only b Decrease in money supply c Increase in overall demand (aggregate demand)