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Gillespie: Foundations of Economics
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Gillespie: Foundations of Economics

Unit 30

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

If the value of the pound in other currencies is strong:

a) The price of UK products abroad in foreign currency will fall

b) The price of UK products abroad in foreign currency will rise

c) The price of UK products in the UK will rise

d) The price of UK products in the UK will fall

Question 2

If the value of the pound in other currencies rises:

a) The spending on UK exports in pounds must rise

b) The spending on UK exports in foreign currency will rise if demand is price elastic

c) The demand for UK exports will rise

d) The spending on UK exports in foreign currency will fall if demand for UK exports is price elastic

Question 3

The supply of pounds to the currency market will be upward sloping if:

a) The demand for UK exports is price elastic

b) The demand for UK exports is price inelastic

c) The demand for imports into the UK is price elastic

d) The demand for imports into the UK is price inelastic

Question 4

A fall in the value of the pound is likely to decrease spending on imports if:

a) The price elasticity of demand for imports is price elastic

b) The price elasticity of demand for imports is price inelastic

c) The price elasticity of demand for imports has a unit price elasticity

d) The price elasticity of demand for exports is price elastic

Question 5

If the exchange rate is above the equilibrium level:

a) There is excess demand and the exchange rate will fall

b) There is excess supply and the exchange rate will fall

c) There is excess demand and the exchange rate will rise

d) There is excess supply and the exchange rate will rise

Question 6

If the exchange rate is below the equilibrium level:

a) There is excess demand and the exchange rate will fall

b) There is excess supply and the exchange rate will fall

c) There is excess demand and the exchange rate will rise

d) There is excess supply and the exchange rate will rise

Question 7

To prevent the exchange rate rising the government could:

a) Sell its own currency

b) Increase interest rates

c) Buy its own currency

d) Sell foreign currency

Question 8

A depreciation of a currency occurs when:

a) The value of the currency falls

b) The value of the currency increases

c) Inflation falls

d) The balance of payments improves

Question 9

An appreciation of the currency may occur if:

a) Domestic interest rates fall

b) There is an increase in demand for imports

c) There is an increase in demand for exports

d) There is an increase in the balance of payments deficit

Question 10

A fall in the external value of a currency:

a) May cause an outward shift in the demand for the currency

b) May cause an inward shift in the supply for the currency

c) May lead to a movement along the demand curve for a currency

d) May be due to a increase in demand for the country's exports

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Oxford University Press, Online Resource Centre, Unit 30.