Statistics for A level Macroeconomics key terms Part 1

Click here to take the quiz!

General Stats
Answer Stats
Score Distribution
Your Score History

General Stats

This quiz has been taken 74 times
The average score is 5 of 23

Answer Stats

Hint	Answer	% Correct
Sustained rise in general price level	Inflation	54%
Monetary value of all goods and services produced within an economy in a given time period (1 year)	GDP	46%
Concerned with the study of the whole economy and the effect of changes in the international economy on a country	Macroeconomics	38%
Total value of exports - imports of goods and services within an economy at a certain price and time	Net Exports	37%
The price of a certain currency in terms of other currencies	Exchange Rate	33%
How much (%) an economy grew over the period of 1 year	Economic Growth	27%
Total expenditure on goods and services within an economy at a certain price and time period	Aggregate Demand	25%
Assets lose qualities through daily use and technology becoming obsolete	Depreciation	25%
Total expenditure on capital goods by firms within an economy at a certain price and within a certain amount of time	Investment	25%
Total expenditure by households on goods and services within an economy at a certain price and within a certain amount of time	Consumption	23%
Belief that sometimes government intervention is needed during periods of recession and inflation in order to avoid markets spiralling out of control	Keynesian theory	23%
Type of supply, at least one factor of production is fixed	Short run aggregate supply	23%
The change in consumer spending following a change in income	Marginal propensity to consume	21%
Belief that excessive inflation and recession is temporary	Classical theory	19%
The outlook that consumers have towards the economy and their own financial situation	Consumer Confidence	19%
Change in injections generates further change in aggregate demand	Multiplier Effect	19%
Total expenditure by the government on goods and services in an economy at a certain price and time	Government expenditure	17%
Type of supply, All factors of production are variable and can be adjusted accordingly	Long run aggregate supply	17%
Change in income generates a further change in consumption	Income Effect	15%
Change in consumption generates further change in investment	Accelerator Effect	12%
Examples include sudden price changes in commodities, pandemics, war, natural disaster, etc..	External shocks	12%
WPIDEC	Weaker Pound Imports Dearer Exports Cheaper	8%
SPICED	Stronger Pound Imports Cheaper Exports Dearer	6%