Economics Paper 1

1

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






2

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






3

........................................ 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?





4

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?





5

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?






6

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






7

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






8

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?






9

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





10

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






Result

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