Difficulty level 2/10

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Savio Costa

Bangladesh

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Difficulty level 2/10


Difficulty level 2/10Version en ligne We will increase as you start getting 90%. par Savio Costa 1 1. Balance of Payments: What does a current account deficit indicate? a The country imports more goods and services than it exports b The country exports more than it imports c The country has a trade surplus d The country’s currency is appreciating 2 GDP: Which of the following is included in the calculation of GDP? a Government spending on infrastructure b Financial transactions like stock purchases c Sale of used goods d Transfer payments like pensions 3 Elasticity of Demand: If the price of a product increases by 10% and the quantity demanded decreases by 5%, what is the price elasticity of demand? a 0.5 (inelastic) b 2 (elastic) c 1 (unit elastic) d 5 (highly elastic) 4 Elasticity of Supply: What does a perfectly inelastic supply curve look like? a Vertical line b Horizontal line c Upward sloping line d Downward sloping line 5 Globalization: Which of the following is a direct effect of globalization? a Reduced international trade barriers b Increased tariffs on imports c Nationalization of industries d Decreased foreign direct investment 6 Specialization: According to the theory of specialization, what is the main benefit? a Higher production efficiency b Increased variety of products c Reduced competition d Increased tariffs 7 Comparative Advantage: Country A can produce 10 units of cloth or 5 units of wine. Country B can produce 6 units of cloth or 6 units of wine. Which country has the comparative advantage in cloth? Choose one or more answers a Country B b Country A c Both have equal advantage d Neither 8 Competitive Advantage: Which factor is NOT typically considered in competitive advantage? a Currency exchange rates b Natural resources c Labor skills d Technology 9 Gross National Income (GNI): How is GNI calculated? a GDP + net income from abroad b GDP - net income from abroad c GDP + government spending d GDP - depreciation 10 Demand and Supply Equilibrium: Given demand equation Qd = 100 - 2P and supply equation Qs = 20 + 3P, what is the equilibrium price (P)? a 16 b 20 c 12 d 10 11 Types of Taxes: Which tax is considered regressive? a Sales tax b Income tax c Corporate tax d Property tax 12 Unemployment: Which type of unemployment is caused by technological change? a Structural b Cyclical c Frictional d Seasonal 13 Exchange Rate Fluctuation: What is a likely effect of a depreciation of a country’s currency? a Exports become cheaper b Foreign investment decreases c Exports become more expensive d Imports become cheaper 14 Impact of Exchange Rate: How does a strong currency affect inflation? a Financial account b Reserve account c Current account d Capital account 15 GDP: Which method is NOT used to calculate GDP? a Investment method b Income method c Expenditure method d Output method 16 Elasticity: If demand is perfectly elastic, what happens to quantity demanded when price changes? a Quantity demanded changes infinitely b Quantity demanded remains constant c Quantity demanded changes slightly d Quantity demanded decreases 17 Globalization: Which organization promotes global trade liberalization? a WTO b IMF c UNESCO d WHO 18 Specialization: What is the main risk of over-specialization? a Vulnerability to market changes b Decreased output c Reduced efficiency d Increased costs 19 Demand and Supply: If the demand equation is Qd = 50 - 5P and supply equation is Qs = 10 + 2P, what is the equilibrium quantity? a 30 b 40 c 20 d 25 20 If a economy is broke what's the symptons? a Domestic chaos b Crime rate c Unemployment and inflation d Less GDP

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Difficulty level 2/10

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À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Difficulty level 2/10Version en ligne

par Savio Costa

1. Balance of Payments: What does a current account deficit indicate?

GDP: Which of the following is included in the calculation of GDP?

Elasticity of Demand: If the price of a product increases by 10% and the quantity demanded decreases by 5%, what is the price elasticity of demand?

Elasticity of Supply: What does a perfectly inelastic supply curve look like?

Globalization: Which of the following is a direct effect of globalization?

Specialization: According to the theory of specialization, what is the main benefit?

Comparative Advantage: Country A can produce 10 units of cloth or 5 units of wine. Country B can produce 6 units of cloth or 6 units of wine. Which country has the comparative advantage in cloth?

Choose one or more answers

Competitive Advantage: Which factor is NOT typically considered in competitive advantage?

Gross National Income (GNI): How is GNI calculated?

Demand and Supply Equilibrium: Given demand equation Qd = 100 - 2P and supply equation Qs = 20 + 3P, what is the equilibrium price (P)?

Types of Taxes: Which tax is considered regressive?

Unemployment: Which type of unemployment is caused by technological change?

Exchange Rate Fluctuation: What is a likely effect of a depreciation of a country’s currency?

Impact of Exchange Rate: How does a strong currency affect inflation?

GDP: Which method is NOT used to calculate GDP?

Elasticity: If demand is perfectly elastic, what happens to quantity demanded when price changes?

Globalization: Which organization promotes global trade liberalization?

Specialization: What is the main risk of over-specialization?

Demand and Supply: If the demand equation is Qd = 50 - 5P and supply equation is Qs = 10 + 2P, what is the equilibrium quantity?

If a economy is broke what's the symptons?