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6. What is a Trade surplus

  • Exports = Imports
  • Exports > Imports
  • Exports < Imports
  • Exports - Imports

7. What is Government Expenditure

  • Spending by the central government and local government on goods and services not including tranfer payments
  • The amount of imported goods in the country
  • Spending by the central government and local government on goods and services plus transfer payments
  • Spending by local mps on shopping

8. What is the calcuation for Aggregate Demand?

  • C+I+G-(X-M)
  • C+I+G+(X+M)
  • C+I+G+(X-M)
  • C-I+G+(X-M)

9. What is the Jobs seekers allowance

  • A benefit paid by the government to those unemployed and trying to find a job
  • A benefit made from consumers for consumers
  • A benefit to the employed
  • A benefit paid by the government to those unemployed and not trying to find a job

10. What are Transfer Payments

  • Money transfered from one to another not in return for goods
  • Money transfered from one to another in return for goods
  • Goods transfered from one to another
  • Services transfered from one or more people to another

11. What does EXPORTS minus IMPORTS equal

  • Government Expenditure
  • Trade/ Exports
  • Net Trade/Net Exports
  • Consumption

12. What is Aggregate Demand?

  • The total Demand for a country's goods and services at a given price level
  • The total supply in the world of goods and services
  • The total supply for a countrys goods and services at a given price level
  • The total demand for goods and services at a price level on the moon

13. What is Gross Domestic Product (GDP)

  • The sum of C+I+G+(X-M)
  • The total imported into a country
  • The total output produced in a country
  • The output produced in a country

14. What are exports

  • Products bought within a country
  • Products bought from abroad
  • Products sold abroad
  • Products sold within a country