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economics-Economics 2.2.2 Quiz
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Master Economics concepts with ease using 'Economics
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, Business - economics II of X pagesCircle the letter of the Answer that corresponds to the displayed Question.
1. Keynesian economics
A the various macroeconomic theories and models of how aggregate demand strongly influences
B: real interest rate/price expectations/availability of credit/unemployment or job security/consumer
C: disposable income
D: C + S
2. Reward for providing land
A: wages
B rent
C: when unemployment is rising many people save more as a precaution as job security declines
D: if consumers expect prices to fall in the future they may choose to save more now
3. consumption
A spending on consumer goods and services
B: change in S over the change in Y
C: change in spending(C)/change in income(Y)
D: wages, savings, investments, pensions and benefits
4. how do expectations and sentiment affect consumer spending?
A: change in spending(C)/change in income(Y)
B uncertainty causes spending to fall, improving animal spirits lift demand
C: the tendency for investment prices to rise and fall based on human emotion rather than intrinsic value
D: corporate savings provide a cushion during a recession when sales and revenue fall, business savings
5. how does household wealth affect consumer spending?
A rise in wealth can increase consumer demand
B: change in S over the change in Y
C: the nominal interest rate adjusted for inflation
D: savings can smooth consumption during tough economic times, allow people to reduce debts and are a
6. how does price expectations change the level of household saving?
A: amount of additional income that is saved
B if consumers expect prices to fall in the future they may choose to save more now
C: interest on many types of saving is taxed, some saving schemes are tax-free or low tax
D: corporate savings provide a cushion during a recession when sales and revenue fall, business savings
Business - 2024/25 2024/2025 Edition
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