IB ECON 21-22

IB ECON 21-22

Professional Development

30 Qs

quiz-placeholder

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IB ECON 21-22

IB ECON 21-22

Assessment

Quiz

Business

Professional Development

Medium

Created by

tran tai

Used 1+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is a budget deficit?
When government revenue exceeds spending
When government spending exceeds revenue
When a country has no debt
When GDP exceeds government debt

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Government debt is best described as:
The annual difference between G and T
The sum of all accumulated budget deficits
Only foreign borrowing
The total tax revenue collected

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A sustainable level of government debt is important because:
It allows unlimited borrowing
No government can continually spend more than it earns
It eliminates the need for taxation
It ensures zero inflation

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

How is government debt primarily measured?
Absolute dollar value
As a percentage of GDP
By annual tax revenue
By inflation rate

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A high debt-to-GDP ratio indicates:
A highly sustainable debt level
A less affordable debt
No risk of inflation
A budget surplus

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What happens when a government runs a budget surplus?
National debt increases
National debt decreases
GDP automatically rises
Inflation increases

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is a cost of high government debt?
Lower interest rates
Higher credit ratings
Debt servicing costs
Increased foreign aid

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