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 does "economic diversification" refer to?

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

3. What is the primary objective of a tax system in an economy?

4. What does "debt-to-GDP ratio" measure?

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

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

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

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

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

10. What does "Deflation" mean in economic terms?

11. What does "Monetary Policy" involve?

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

13. Which of the following is a common indicator of economic growth?

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

15. What is "tax incidence"?

16. Which of the following best defines "public debt"?

17. Which of the following is an example of a "lagging indicator" in economics?

18. What does the term "economic recession" refer to?

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

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

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

22. What is "Trade Balance" in economic terms?

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

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

25. What does "market equilibrium" mean in economic terms?


 

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