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 primary objective of a tax system in an economy?

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

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

4. Which of the following is considered a key economic indicator used to assess a country’s economic health?

5. What does "Monetary Policy" involve?

6. What does "trade liberalization" involve?

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

8. What is "supply-side economics"?

9. Which of the following is an example of a macroeconomic indicator?

10. What does "economic diversification" involve?

11. What is the difference between fiscal deficit and budget deficit?

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

13. Which of the following is considered a key function of central banks?

14. What does "exchange rate" determine in international trade?

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

16. What is the concept of "opportunity cost" in economics?

17. What does the term "supply-side economics" focus on?

18. What does "exchange rate" refer to in economics?

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

20. What is "tax incidence"?

21. Which of the following is a characteristic of a progressive tax system?

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

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

24. Which of the following is typically used to measure the standard of living in a country?

25. What is "consumer price index" (CPI)?


 

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