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Difficulty level 2/10

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Created by

Savio Costa
Savio Costa
Bangladesh

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Difficulty level 2/10
 

Difficulty level 2/10Online version

We will increase as you start getting 90%.

by Savio Costa
1

1. Balance of Payments: What does a current account deficit indicate?

2

GDP: Which of the following is included in the calculation of GDP?

3

Elasticity of Demand: If the price of a product increases by 10% and the quantity demanded decreases by 5%, what is the price elasticity of demand?

4

Elasticity of Supply: What does a perfectly inelastic supply curve look like?

5

Globalization: Which of the following is a direct effect of globalization?

6

Specialization: According to the theory of specialization, what is the main benefit?

7

Comparative Advantage: Country A can produce 10 units of cloth or 5 units of wine. Country B can produce 6 units of cloth or 6 units of wine. Which country has the comparative advantage in cloth?

Choose one or more answers

8

Competitive Advantage: Which factor is NOT typically considered in competitive advantage?

9

Gross National Income (GNI): How is GNI calculated?

10

Demand and Supply Equilibrium: Given demand equation Qd = 100 - 2P and supply equation Qs = 20 + 3P, what is the equilibrium price (P)?

11

Types of Taxes: Which tax is considered regressive?

12

Unemployment: Which type of unemployment is caused by technological change?

13

Exchange Rate Fluctuation: What is a likely effect of a depreciation of a country’s currency?

14

Impact of Exchange Rate: How does a strong currency affect inflation?

15

GDP: Which method is NOT used to calculate GDP?

16

Elasticity: If demand is perfectly elastic, what happens to quantity demanded when price changes?

17

Globalization: Which organization promotes global trade liberalization?

18

Specialization: What is the main risk of over-specialization?

19

Demand and Supply: If the demand equation is Qd = 50 - 5P and supply equation is Qs = 10 + 2P, what is the equilibrium quantity?

20

If a economy is broke what's the symptons?

 
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