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Gillespie: Foundations of Economics

Unit 19

Instructions

Choose your answers from a-d by clicking the radio button next to each choice and then press 'Submit' to get your score.

Question 1

Which of the following is a macroeconomic issue?

a) The price of houses in Oxford

b) The wage rate for plumbers in London

c) Your decision to work or stay at home

d) The level of unemployment in the UK

Question 2

What is meant by an objective?

a) A policy

b) A way of reaching a target

c) A target

d) A strategy

Question 3

Which of the following is not involved with fiscal policy?

a) Income tax

b) National insurance

c) VAT

d) Interest rates

Question 4

Which does the government not control directly?

a) Spending on health

b) Spending on defence

c) Firms' investment decisions

d) Spending on education

Question 5

Which of the following is not a macroeconomic issue?

a) Unemployment

b) Inflation

c) The wages paid to footballers

d) Economic growth

Question 6

Which of the following can the government not use directly to control the economy?

a) Pay rates within the private sector

b) Pay rates in the public sector

c) Investment in education

d) Benefits available for the unemployed and sick

Question 7

Which of the following is a policy instrument as opposed to a government objective?

a) Lower interest rates

b) A better balance of trade position

c) Faster economic growth

d) Lower unemployment

Question 8

Which of the following is a possible government objective as opposed to a policy?

a) Lower interest rates

b) Lower taxation rates

c) Lower government spending

d) Lower inflation

Question 9

Which of the following is not likely to be a government objective?

a) Increasing employment

b) Increasing economic growth

c) Increasing government spending

d) Increasing the level of exports

Question 10

"Reducing inflation is a more important objective than economic growth" is an example of:

a) Normative economics

b) Positive economics

c) Objective economics

d) Reality economics

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Oxford University Press, Online Resource Centre, Unit 19.