Economics and Finance

HideShow resource information
The business cycle is defined as the
path of actual output in relation to potential output over a number of years
1 of 23
Nominal GDP measures the value of current
output at current prices
2 of 23
Monetary policy does NOT include
austerity measures
3 of 23
In the UK recession is technically defined as
a fall in GDP over two consecutive quarters
4 of 23
If the £ appreciates against the Euro
UK exports become more expensive in Eurozone countries
5 of 23
Macroeconomics involves the study of
aggregate measures of economic performance
6 of 23
Which is the most likely cause of inflation
labour costs rising above gains in productivity
7 of 23
A macroeconomic policy instrument might include
expansionary fiscal policy
8 of 23
Real GDP measures the value of output is adjusted for
inflation
9 of 23
Which is the largest component of Aggregate Demand in the UK
consumer spending
10 of 23
Which of the following could lead to a fall in UK output
an increase in demand for imports
11 of 23
The Bank of England
is an independent central bank
12 of 23
Which of the following is a macroeconomic issue
the actual rate of economic growth
13 of 23
If an economy is fully utilising its available resources this can be illustrated by
a point on its production possibilities frontier
14 of 23
Which of the following would NOT lead to an increase in UK output?
An increase in demand for Eurozone imports.
15 of 23
An example of a well know trade-off evident in the economy over the business cycle is
rising inflation and falling unemployment
16 of 23
Real GDP measures the value of current output when
nominal prices are adjusted for inflation.
17 of 23
Which is the most likely cause of cost push inflation
Increases in world oil prices
18 of 23
What is the most likely to increase the volume of UK exports?
Depreciation of the pound against the Euro
19 of 23
With respect to the circular flow of economic activity, saving represents
a withdrawal or leakage.
20 of 23
Market orientated supply-side policies have involved
reducing the marginal rate of tax
21 of 23
What are likely to be the consequences of slower rates of economic growth?
Living standards rising less quickly.
22 of 23
If the £ depreciates against the US dollar
UK exports to the USA become less expensive
23 of 23

Other cards in this set

Card 2

Front

Nominal GDP measures the value of current

Back

output at current prices

Card 3

Front

Monetary policy does NOT include

Back

Preview of the front of card 3

Card 4

Front

In the UK recession is technically defined as

Back

Preview of the front of card 4

Card 5

Front

If the £ appreciates against the Euro

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Management resources:

See all Business Management resources »See all Economics resources »