1. When was the Bank Of England Established?
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2. Which of the following is an effect of lowering Interest rates?
- More expensive loans, meaning larger projects discouraged.
- Improves external value of currency.
- Cheaper borrowing, meaning less incentive to save.
- Expensive borrowing, meaning more incentive to save.
3. What is the definition of 'Fiscal Policy'?
- Changing the level of money supply and interest rates.
- Changing the level of government spending and tax.
- Changing the level of money supply and tax.
- Changing the level of government spending as interest rates.
4. Which of the following is a cause of Inflation?
- Civil unrest.
- Reduced costs of raw materials.
- Cheaper borrowing or tax cuts, leads to higher prices and wages.
- Equal supply to demand.
5. The Great Depression resulted in how many citizens jobless?
- 20 Million
- 14 Million
- 15 Million
- 13 Million