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Economic Facts: True or False

Yes or No

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About this activity

Quick true/false quiz on economics basics.

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Canada

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Economic Facts: True or False
 

Economic Facts: True or FalseOnline version

Quick true/false quiz on economics basics.

by Montex
1

Demand-pull inflation is caused by an increase in overall demand in the economy (aggregate demand).

2

Increasing the money supply always reduces aggregate demand.

3

Inflation is defined as the steady and continuous rise in the general price level over time.

4

GDP measures output produced in a country over a given period, usually one year.

5

Inflation is caused exclusively by government tax increases.

6

A recession is a period during which total output in the economy declines.

7

A budget deficit occurs when government revenue exceeds expenditure.

8

A depression is a short downturn lasting only a few weeks.

9

Unemployment is defined as any person who is actively seeking work but unable to find it.

10

The unemployment rate is calculated as the number of unemployed divided by the total population.

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