Basic Principles Of Economics! Trivia Quiz

7 Questions | Total Attempts: 249

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Economics Quizzes & Trivia

The end of the semester is here, and this means that you have to sit for your respective exams. Are you an economics student and think that you have prepared fully for the upcoming exam? If you are in doubt, take up the exam below and get to find out what your chances are at getting your desired score while having some practice at the same time.


Questions and Answers
  • 1. 
    All of the following where reasons for the Great Depression of 1929 except _________?
    • A. 

      Hyper Inflation

    • B. 

      World War

    • C. 

      Protectionism

    • D. 

      Lack of technology

    • E. 

      Simultaneous price rise

  • 2. 
    In the years after World War II the world economy was dominated by which region or country?
    • A. 

      Western Europe

    • B. 

      China

    • C. 

      United States

    • D. 

      Russia

    • E. 

      Latin America

  • 3. 
    In finance, the exchange rates are also known as _________________.
  • 4. 
    The formula for GDP is?
    • A. 

      Consumption + foreign investment + government spending + (exports − imports)

    • B. 

      Consumption + gross investment + government spending + (exports − imports)

    • C. 

      Consumption + gross investment + household spending + (exports − imports)

    • D. 

      Consumer goods + gross investment + household spending + (exports − imports)

    • E. 

      Consumer goods + gross investment + household spending + exports

  • 5. 
    The world economy around 1950 had a HIGH level of connectedness?
    • A. 

      Yes

    • B. 

      No

  • 6. 
    ____________ is the share of economic output that is being sold to other countries.
  • 7. 
    What are the three factors?
    • A. 

      Consumer Institutions, National Commitments to Globalization, and Changes in Technology

    • B. 

      New Global Institutions, United States Commitments to Globalization, and Changes in Technology

    • C. 

      New Global Institutions, National Commitments to lower tariffs, and Changes in Technology

    • D. 

      New Global Institutions, National Commitments to Globalization, and Changes in governmental policies

    • E. 

      New Global Institutions, National Commitments to Globalization, and Changes in Technology