Economics Quiz 2

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Last updated: June 7, 2020

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Hint	Answer
Who wrote the general theory of employment, interest & money	John Maynard Keynes
A good that is non-rivalrous and non-excludable	Public Good
The increase in the price of a currency	Appreciation
An exchange rate system with no intervention	Floating Exchange Rate System
When import expenditure exceeds export revenue	Trade Deficit
What does the Gini Coefficient measure	Income Inequality
A Trade Bloc with a common external barrier	Customs Union
Costs that can't be recovered	Sunk Costs
A market structure with a few dominant sellers	Oligopoly
Total Revenue - Total Cost	Profit
Main policy tool of a central bank	Interest Rates
A type of unemployment caused by a downturn in the economy	Cyclical Unemployment
What does PPP stand for	Purchasing Power Parity
The name for a good where demand increases as price increases	Veblen Good

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