Economics Quick Quiz

Froggy Jumps

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Economics basics race

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Roberto Cagande

Philippines

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Economics Quick Quiz


Froggy Jumps Economics Quick QuizVersion en ligne Economics basics race par Roberto Cagande 1 What does the law of demand state about price and quantity demanded? a When price rises, quantity demanded falls b Prices do not affect demand c When price falls, quantity demanded falls 2 How is price elasticity of demand defined? a Change in supply when price changes b Total revenue at different prices c Responsiveness of quantity demanded to price changes 3 What does GDP measure? a Total income of households b Total value of all final goods and services produced in a country c Sum of all government debt 4 What is inflation? a Prices of stocks rising only b A general rise in price levels c Falling prices over time 5 Which tools are used in fiscal policy? a Government spending and taxes to influence the economy b Private sector loan guarantees c Central bank money printing 6 What does monetary policy primarily involve? a Controlling money supply and interest rates b Imposing tariffs on imports c Setting wage floors 7 What is the opportunity cost of a choice? a Tax paid on a decision b Interest rate on a loan c Value of the best foregone alternative 8 What is comparative advantage? a Market price equals cost of production b Produce goods with the lowest opportunity cost c Produce everything as cheaply as possible 9 What does the GDP deflator measure? a Stock market indices b Prices of consumer goods only c Price level of all domestically produced final goods and services 10 What describes a budget deficit? a Expenditure exceeds revenue in a period b Full-year profit of the government c Total national debt

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Economics Quick Quiz

Froggy Jumps

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Economics Quick QuizVersion en ligne

par Roberto Cagande

What does the law of demand state about price and quantity demanded?

How is price elasticity of demand defined?

What does GDP measure?

What is inflation?

Which tools are used in fiscal policy?

What does monetary policy primarily involve?

What is the opportunity cost of a choice?

What is comparative advantage?

What does the GDP deflator measure?

What describes a budget deficit?