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King: Economics

Chapter 17

Instructions

Answer the following questions and then press 'Submit' to get your score.

Question 1

Which of the following statements about economic growth is false?

Question 2

Each of the following statements includes two terms. In three cases, the two terms mean the same as each other. In which case do the two terms not mean the same as each other?

Question 3

Suppose year 1 is taken as a base period. Nominal GDP that year is £500 billion. By a later year 2, nominal GDP has reached £700 billion but the GDP deflator is 125. What will real GDP be each year?

Question 4

In what circumstances is an economy said to be in recession?

Question 5

Which one of the following are regarded as being in the labour force?

Question 6

Measures of unemployment based on people who receive Job-Seekers' Allowance make no allowance for the four groups of people listed below. Which of these four groups is also excluded from the international measure?

Question 7

Which of the following statements is false?

Question 8

Which of the following statements is false?

Question 9

In which of the following situations would real GDP increase while the price level stayed the same?

Question 10

Which of the following statements is false?