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The macroeconomy and its aims quiz (Singapore O-Level Economics 2286) quiz

14questions. Pick an answer and you'll see why right away.

  1. What are the four components of aggregate demand?

  2. In the circular flow of income, which of these is an INJECTION?

  3. Which of these is a WITHDRAWAL (leakage) from the circular flow?

  4. The circular flow is in equilibrium when:

  5. Economic growth is best measured by:

  6. Why is real GDP per head (per capita) a better measure of living standards than total GDP?

  7. Which is a limitation of using GDP to measure wellbeing?

  8. Demand-pull inflation is caused by:

  9. Cost-push inflation is caused by:

  10. Which group is most likely to be HARMED by unexpected high inflation?

  11. A worker loses their job because demand for the economy's output falls during a recession. This is:

  12. Workers in a declining industry cannot find new jobs because their skills no longer match available vacancies. This is:

  13. Which is a cost of high unemployment to the wider economy?

  14. If a country's real GDP rises by 4% while its population rises by 5%, then real GDP per head has: