Economics Paper 1


Which of the following is not an element of fiscal policy?


Which of the following is associated with a negative Public Sector Net Cash Requirement?


........................................ taxes are collected by the Revenue authority from a business, which attempts to pass on the tax to consumers in the price of goods. Which word correctly completes this statement?


If a government has a macro-economic policy objective of expanding the overall level of economic activity, which of the following measures would not be consistent with such an objective?


The currency in country X is the Krone while country Y uses the Euro. Country Y has recently experienced an increase in its exchange rate with Country X. Which of the following effects is likely to result in Country Y?


The following, with one exception, are ‘protectionist measures’ in international trade. Which is the exception?


Are the following statements true or false?
1 Frictional unemployment will be short term
2 Governments can encourage labour mobility if they want to reduce unemployment


Monetary policy is a government economic policy relating to:
1 Interest rates
2 Taxation
3 Public borrowing and spending
4 Exchange rates
Which of the above are correct?


Which of the following organisations might benefit from a period of high price inflation?


Which of the following are the goals of macroeconomic policy?
1 Encouraging economic growth
2 Low unemployment
3 Achievement of a balance between exports and imports
4 Achieving zero inflation


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