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