home

Edexcel Economics 5. The UK Economy - Income, Growth, Policy

In this quiz the answers change every time you play! Guess the terms that fit these definitions
Answer must correspond to highlighted box!
Quiz by
robalot39
Rate:
Last updated: September 10, 2019
You have not attempted this quiz yet.
More quiz info >>
First submittedAugust 18, 2019
Times taken29
Average score40.0%
Report this quizReport
Quiz and answer stats >>
Shared scores >>
6:00
Enter answer here
0
 / 20 guessed
The quiz is paused. You have remaining.
Scoring
You scored / = %
This beats or equals % of test takers also scored 100%
The average score is
Your high score is
Your fastest time is
Keep scrolling down for answers and more stats ...
Description
Term
That which a country might not want due to the international pressure it will bring upon them to reduce it, such was the case leading up to the trade war between the United States of America and People's Republic of China
Current Account Surplus
A subtraction from a stock such as taking money out of a savings account
Outflow
That, which investment in would cause economic growth by providing firms the communication and transport networks vital for production and trade
Infrastructure
An addition to a stock such as putting money into a savings account
Inflow
The two main agents in the circular flow, in alphabetical order
Firms and Households
The proportion of additional income that is taken from people in the form of direct and indirect taxes
Marginal Propensity to Tax (MPT)
That type of fiscal policy that will result in a reduction of the inflation rate ceteris paribus
Contractionary
The salient factor affecting economic growth
Investment
The average rate of economic growth that is sustainable over a period of time without causing inflation
Trend Rate of Growth
The practically lowest possibly percentage that the Bank Rate can be and was lowered to during the financial crisis, thus causing the Bank of England to turn to a policy of quantitative easing
0.5%
That type of policy, the principal weaknesses of which are that expansionary policies can increase inflation and worsen the balance of payments position, while changes in taxes and long-term spending are slow and difficult to implement
Fiscal Policy
A market-based supply-side policy in which rules, regulations, and barriers are reduced in order to increase innovation and investment, successful where markets are competitive and not under monopolies
Deregulation
That which remains fixed until an inflow or outflow increases of decreases it respectively, such as the balance in a savings account
Stock
The stock of skills, knowledge, and experience possessed by people, making them more productive and innovative
Human Capital
The relationship between the price of an asset and the interest rate on the asset
Inverse Relationship
The flow of money paid regularly into factors of production
Income
That which economic growth can harm as the increased consumption and investment results in more pollution of all types, while also fueling climate change
Environment
The labour, land, and capital that businesses need in order to provide goods and services
Factor Services
The accumulation of government borrowing
Net Debt
The four stages of the trade cycle beginning with the highest point
Boom, Downturn, Trough, and Recovery
Save Your Stats
Your Next Quiz
Countries by Languages in 90 Seconds
Fill in the map by guessing languages. When you guess a language, all the countries that use it as an official language will be filled in.
Landlocked Countries - Sudden Death
Click all the landlocked countries without clicking any countries which border the sea.
Olympic Host Countries - Sudden Death
Can you name all of the countries to host the Summer or Winter Olympic Games, whilst avoiding the ones that haven't?
Pin Europe on a Borderless Map - Sudden Death
Drag the flag onto the correct country. Careful, though! One wrong move and the game ends.
Comments
No comments yet
Copyright H Brothers Inc, 2008–2026
Contact Us | Go To Top | View Desktop Site | Site Map