Economics and Finance 0.0 / 5 ? Business ManagementEconomicsFinanceUniversityAll boards Created by: dxyzCreated on: 18-05-15 15:41 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
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