Economics section A
This is based on all choice questions from unit 1 of microeconomics. Most of these questions are from many different past papers.
- Created by: MariaLouise_16
- Created on: 30-11-13 12:51
Other questions in this quiz
2. An increase in imports of consumer goods is most likely to have been caused by a
- rise in household disposable income.
- rise in direct taxation.
- fall in the exchange rate.
- rise in household saving.
3. Which one of the following is a measure of productivity?
- output divided by employment.
- the quantity of capital equipment used divided by its price.
- the annual percentage increase in production.
- the total amount of output produced each month.
4. The price elasticity of supply of a product will depend on
- the availability of factors of production.
- the incomes of consumers.
- whether the product is a luxury or a necessity.
- the extent to which the product is advertised.
5. There is an output gap when
- national output is higher or lower than it would have been if the country had grown continuously at its trend rate of growth.
- the economy is continuously producing more capital goods than consumer goods over a period of time.
- unemployment occurs because the rate of economic growth increase above its trend rate of growth.
- productivity is continuously higher in one country than in another.
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