What is the balance of payments?

AQA Economics A Level - Key Term Glossary: Macro

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Other
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12th Grade
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Easy
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100 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A record of all economic transactions between the residents of a country and the rest of the world.
A measure of a country's economic output.
A system for managing a country's currency.
A method for calculating inflation rates.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the current account measure?
The balance of trade, net income from abroad, and net current transfers.
The total amount of goods and services produced in a country.
The level of inflation in an economy.
The total amount of foreign direct investment.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are economic cycles?
Expansion and contraction phases in the economy
A type of bicycle used for economic purposes
A financial term for stock market trends
A method of calculating GDP
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is economic development?
The process of improving economic well-being and quality of life.
The decline in economic growth and quality of life.
The stagnation of economic activities.
The reduction of economic disparities.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is economic growth?
Increase in the production of goods and services
Decrease in the unemployment rate
Increase in the population
Improvement in technology
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are economic shocks?
Sudden and unexpected events that affect an economy
Gradual changes in economic policy
Predictable economic trends
Long-term economic planning
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is economic stability?
A state in which the economy of a country experiences constant growth and low inflation.
A situation where the economy is in a recession.
A condition where the economy is experiencing hyperinflation.
A scenario where the economy is stagnant.
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