Circular Economy & Macro Quiz

Froggy Jumps

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Quick econ check

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Mayumi

Philippines

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Froggy Jumps Circular Economy & Macro QuizOnline version Quick econ check by Mayumi 1 In the circular flow, who supplies the factors of production to firms? a Government b Businesses c Households 2 Which is a primary responsibility of households and firms to the government? a Paying taxes to fund public services b Providing subsidies to rivals c Setting interest rates 3 What role does the financial market play in the circular flow? a Exports goods internationally b Sets government budgets c Receives savings and lends investments 4 GDP is best described as the total what within a country? a Total tax revenue b Production of goods and services c Total population 5 Cost-push inflation is mainly caused by a Lower money supply b Increased consumer demand only c Higher production costs shifting prices up 6 Demand-pull inflation occurs when a Prices collapse b Money supply shrinks c Aggregate demand rises faster than supply 7 Expansionary monetary policy typically a Reduces money supply b Raises reserve requirements c Increases money supply and lowers interest rates 8 Which action best describes fiscal expansion during a recession? a Decrease spending and raise taxes b Do nothing and wait c Increase government spending and cutting taxes 9 Capital outlays in the national budget refer to a Purchases of long-term assets like equipment or land b Salaries for teachers and nurses c Daily operating expenses 10 SAP during COVID-19 is an example of which policy? a Tax rebates only b Expansionary fiscal policy c Contractionary monetary policy

Froggy Jumps

Circular Economy & Macro QuizOnline version

Quick econ check

by Mayumi

In the circular flow, who supplies the factors of production to firms?

Government

Businesses

Households

Which is a primary responsibility of households and firms to the government?

Paying taxes to fund public services

Providing subsidies to rivals

Setting interest rates

What role does the financial market play in the circular flow?

Exports goods internationally

Sets government budgets

Receives savings and lends investments

GDP is best described as the total what within a country?

Total tax revenue

Production of goods and services

Total population

Cost-push inflation is mainly caused by

Lower money supply

Increased consumer demand only

Higher production costs shifting prices up

Demand-pull inflation occurs when

Prices collapse

Money supply shrinks

Aggregate demand rises faster than supply

Expansionary monetary policy typically

Reduces money supply

Raises reserve requirements

Increases money supply and lowers interest rates

Which action best describes fiscal expansion during a recession?

Decrease spending and raise taxes

Do nothing and wait

Increase government spending and cutting taxes

Capital outlays in the national budget refer to

Purchases of long-term assets like equipment or land

Salaries for teachers and nurses

Daily operating expenses

SAP during COVID-19 is an example of which policy?

Tax rebates only

Expansionary fiscal policy

Contractionary monetary policy

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Circular Economy & Macro Quiz

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Froggy Jumps

Circular Economy & Macro QuizOnline version

by Mayumi

In the circular flow, who supplies the factors of production to firms?

Which is a primary responsibility of households and firms to the government?

What role does the financial market play in the circular flow?

GDP is best described as the total what within a country?

Cost-push inflation is mainly caused by

Demand-pull inflation occurs when

Expansionary monetary policy typically

Which action best describes fiscal expansion during a recession?

Capital outlays in the national budget refer to

SAP during COVID-19 is an example of which policy?

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