Macro Economics General Quiz

Unemployment measures include

• Students

• People who want to work longer hours but can't

• Long term sick

• Those out of work but not seeking benefits

Which of the following is not an measure of living standards?

• Average Income

• Average life expectancy

• Average years of schooling

• Average number of holiday days

GDP = C +? + G + (X-M). What is ?

(a)  

Define Fiscal Policy

Labour Productivity is best defined as

• How much over time workers put in

• How hard people work

• The output generated per worker

• The value of work produced

Select all features of a recession

• Increased unemployment

• Higher tax rates

• Lower interest rates

• Falling GDP

Which of the following are indirect taxes?

• VAT

• Corporation tax

• Excise Duty

• Income tax

Which of the following are sources of wealth?

• Salary

• Dividend

• Pension Fund

• Savings

How much did China's GDP change by in Q1 2020?

• Increase 1.2%

• Decrease 6.8%

• Increase 3.2%

• Decrease 2.9%

The Furlough Scheme is estimated to cost the Government how much by the time it come to a close in the Autumn?

• £80bn

• £90bn

• £100bn

• £120bn