Thursday, July 29, 2010

Take a Test on Economics

  1. Gross Domestic Product (GDP) measures a country's total economic activity. T or F?
  2. Consumer spending represents around two-thirds of the economy. T or F?
  3. If prices are stable, that means there is no inflation. T or F?
  4. Money is a creation of government. T or F?
  5. A period of gently falling prices is a bad thing. T or F?
  6. Before the Reserve Bank/Fed/Bank of England was created, the world was wracked with inflations, booms and busts. T or F?
  7. Economics is a "value-free" science. T or F?
  8. Saving takes money out of the economy. T or F?
  9. Interest rates are set by the Central Bank. T or F?
  10. A good war is good for the economy. T or F
  11. Government spending pumps up an economy in depression. T or F?
  12. Banks are inherently bankrupt. T or F?

Answers here.


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