Economics Trivia Quiz

The non-price factor that does NOT affect supply is?

• effects of technology

• competition

• cost of production

• income

What is the term for the amount of money that a country owes to its creditors

• balance of trade

• balance of payments

• foreign reserves

• external debt

The process by which two independent firms come together to form a new firm.

• Merger

• Acquisition

• Meeting

• Multinational

A situation where the economy's resources are not efficiently allocated: the market does not produce the goods and services that consumers most want and in a quantity that is required.

• Market shortage

• Market inefficiency

• Market lack

• Market failure

The role of the International Bank for Reconstruction and Development, or World Bank, was to grant long-term loans for the economic development of less developed countries and the reconstruction of war-torn countries in Europe.

• TRUE

• FALSE

Money sent by foreign workers to individuals in a home country. This is greater in Africa than FDI.

• Microloans / Microfinance

• Remittances

• MDGs

• Direct cash transfers

Which of the following is not a tool of the monetary policy?

• open market operations

• reserve requirements

• government spending

• discount rate

Type of unemployment that occurs as a result of harvest schedules, or when industries make seasonal shifts in their production schedules.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Unemployment

• Cyclical Unemployment

Economic growth would most likely be stimulated by

• higher unemployment rates

• faster rates of technological progress

• increases in membership of labour unions

• consumption of more consumer goods

In expansionary monetary policy, government will ___.

• Sell securities, higher legal cash reserves requirement and increase bank rate

• Decrease government expenditure, increase taxes.

• Increase government expenditure, decrease taxes

• Purchase securities, lower legal cash reserves requirement, decrease bank rate