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Finance

Understanding the Economy quiz

14 questions on Understanding the Economy, graded instantly with an explanation for every answer. Free and no sign-up — your best score is saved on this device. Want to study first? Read the Understanding the Economy lessons.

Understanding the Economy — Module Assessment

14 questions · pass mark 75%

  1. 1.The opportunity cost of a choice is:
  2. 2.A pollution externality is an example of:
  3. 3.GDP is best described as:
  4. 4.In the United States, which non-partisan body is widely recognised for officially dating recessions?
  5. 5.Fiscal policy refers to:
  6. 6.A budget deficit becomes national debt when:
  7. 7.The standard unemployment rate counts people who are:
  8. 8.The history of the Phillips curve mainly illustrates that:
  9. 9.Comparative advantage means a country should specialize in goods for which it has:
  10. 10.A balanced view of trade recognises that it:
  11. 11.The Gini coefficient measures:
  12. 12.Which pair of trends can both be true at the same time?
  13. 13."Inflation fell to 3%" most accurately means:
  14. 14.A key habit for reading economic news critically is to:
Answer every question to submit.