November assessments practice multiple choice questions

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1. Which of these would a classical economist not say is a sever cause of unemployment

  • Cyclical unemployment
  • Real wage unemployment
  • Frictional unemployment
  • Structural factors
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2. Reducing marginal tax rates can increase long-run aggregate supply by:

  • Reducing the quantity of labour supply
  • Increasing the incentive to work more hours
  • Reducing the incentive for firms to increase output
  • Reduce the incentive to work

3. Which of these is a component of the Harrod Domer Growth model

  • Large current stock
  • Increased Output
  • Increased consumption
  • Increased taxation

4. According to the GINI coefficient, which one of these countries is most unequal

  • South Africa - 0.49
  • USA - 0.48
  • England - 0.45
  • Norway - 0.37

5. What is the formula for the average propensity to save

  • Saving / disposable income
  • Change in saving / change in disposable income
  • Consumption / income + saving
  • Disposable income -consumption
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