Key Economic Terms Test Online (Basic Economic Indicators)

Key Economic Terms Test Online (Basic Economic Indicators)

Key Economic Terms Test

Total Questions: 61
Time Allowed: 30 Minutes
Total Marks: 61
How to Attempt Test: Please choose the right Option in MCQ-type question.
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1. What is the concept of "opportunity cost" in economics?

2. Which of the following is an example of a direct tax?

3. What is meant by "Fiscal Policy" in economic terms?

4. What is "capital flight" in economic terms?

5. What is the role of the World Trade Organization (WTO) in global trade?

6. What does the term "budget surplus" mean?

7. Which of the following best describes "monetary policy"?

8. What is the role of the Central Bank in an economy?

9. Which of the following is an example of "public goods"?

10. Which of the following describes "balance of payments"?

11. What is "supply-side economics"?

12. What is the "current account balance" in a country’s economy?

13. What does "Monetary Policy" involve?

14. Which of the following is the best example of a "consumer good"?

15. What is "foreign exchange reserves"?

16. Which of the following is an example of a "leading economic indicator"?

17. What does inflation measure in an economy?

18. Which of the following is true about "economic growth"?

19. What is meant by "public spending" in economics?

20. What is the term "liquidity" in financial markets?

21. What does the term "supply-side economics" refer to?

22. Which of the following is an indicator of "economic productivity"?

23. What does the term "Recession" indicate in economic terms?

24. What does "price elasticity of demand" measure?

25. What does the "budget deficit" indicate in an economy?


 

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