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AS Econ - Macro - Complete Test June 15

Quiz by Mark Seccombe

EdExcel (A-Level)
Economics A
English National Curriculum

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20 questions
Show answers
  • Q1
    All other things being equal, which one of the following is most likely to increase an economy’s underlying trend rate of growth
    household income
    A rise in the rate of growth of
    inflation
    imports of consumer goods
    30s
    2.5.3
  • Q2
    It can be concluded from the data that, over the 4-year period
    Question Image
    assuming constant money incomes, real income has risen
    the average price level has risen
    prices of goods and services have fallen
    the purchasing power of money has increased
    30s
    2.1.2
  • Q3
    To boost the level of AD using monetary policy, the government might increase the
    rate of interest
    exchange rate
    level of government expenditure
    amount of money in circulation
    45s
    2.6.2a
  • Q4
    Which one of the following is most likely to lead to an increase in spending on imports?
    A rise in unemployment
    A fall in the exchange rate
    A rise in the rate of Value Added Tax (VAT)
    A cut in income tax rates
    30s
    2.2.5
  • Q5
    Which of the following best illustrates the difference between saving and investment?
    Question Image
    A
    B
    C
    D
    45s
    2.2.3
  • Q6
    A shift to the left of AD might have been caused by a decrease in
    labour productivity
    the government budget deficit
    imports
    household savings
    30s
    2.2.4
  • Q7
    A large increase in interest rates in the UK is most likely to
    lead to an increase in bank lending
    decrease the size of the government budget deficit
    decrease house prices
    increase aggregate investment
    30s
    2.6.2a
  • Q8
    Which one of the following is an example of a contractionary fiscal policy designed to reduce inflationary pressures?
    An increase in the government budget surplus
    A reduction in the supply of money available to banks for lending purposes
    Higher interest rates
    A reduction in the exchange rate
    30s
    2.6.2b
  • Q9
    Which of the following is most likely to have caused the changes shown in AD and SRAS?
    Question Image
    The level of investment rises, average productivity rises
    The level of exports decreases, business taxes increase
    Government spending on welfare benefits falls, money wage rates in the economy fall
    The level of consumption falls, the cost of oil and other imported raw materials increases
    30s
    2.4.3
  • Q10
    The current account of the balance of payments comprises
    all government income and expenditure in a financial year
    money that may be withdrawn from the economy at any time
    trade in goods and services, investment income and transfers
    all transactions involving money leaving or entering the country
    30s
    2.1.4
  • Q11
    Assuming that there is no change in the production possibility frontier, a movement from point X to point Y illustrates that there has been
    Question Image
    long-run economic growth
    a rise in real national income
    an improvement in technology
    an increase in spare capacity
    30s
    1.1.4
  • Q12
    From the indexed data, it can only be concluded that
    Question Image
    during the period, the total value of imports increased and the total value of exports fell
    apart from in 2012, there was a surplus in the balance of trade in services
    the total volume of exports fell relative to the total volume of imports over the period.
    in 2014, the value of the deficit in the balance of trade in goods and services was £50bn
    30s
    2.2.5
  • Q13
    For a classical economist, a fall in AD will lead to a long run fall in
    price level
    real income
    level of output
    employment
    30s
    2.4.3
  • Q14
    A cut in the size of a government’s budget surplus is most likely in the short run to both
    reduce the balance of payments deficit on current account and reduce unemployment
    reduce inflation and reduce the balance of payments deficit on current account
    reduce unemployment and reduce inflation
    reduce unemployment and increase economic growth
    30s
    2.6.2b
  • Q15
    Inflation in an economy falls below that of a key trading partner, this is likely to
    increase exports
    cause a deterioration in the current account balance
    increase withdrawals from the circular flow
    increase imports
    30s
    4.1.9

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