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
Where real national output and the price level (aggregate supply and aggregate demand) are equal
Macroeconomic Equilibrium
That which remains fixed until an inflow or outflow increases of decreases it respectively, such as the balance in a savings account
Stock
Measures that make changes to the money supply and interest rates as carried out by the Bank of England
Monetary Policy
Growth that does not compromise the living standards of future generations
Sustainable Economic Growth
The Bank of England's official interest rate, paid to commercial banks and building societies on the reserves with the Bank of England
Bank Rate
Monetary and fiscal policies designed to increase economic activity such as by lowering unemployment
Reflationary or Expansionary Policies
A process whereby a central bank creates more money (mostly electronically) which it uses to buy financial assets (mostly government bonds) from investment companies which save the money, increasing bank deposits and thus the availability of credit, boosting investment and consumption
Quantitative Easing
The ease and cost with which assets can be turned into cash and used immediately as a means of exchange
Liquidity
The way in which monetary policy affects general economic decisions such as a rise in the Bank Rate causing a rise in other institutions' interest rates
Transmission Mechanism
One of the three pairs between withdrawal and injection, relating to foreign trade
Imports and Exports
That which might sometimes be a good thing as it allows firms to expand quickly due to the available pool of labour, and imposes discipline on the labour market due to the ability to replace individuals units of labour
Unemployment
The lowest point of the trade cycle where growth is very low of negative, employment is low and unemployment high, and there is possibly deflation
Trough
A market-based supply-side policy in which restrictions on the free market of labour such as trade unions are reduced or removed
Labour Market Reform
That one of the three principal measures from the circular flow of income, expenditure, and output model which best describes how resources are being used in an economy
Expenditure-side Estimate
A suggested way of viewing the environmental stock of a country, which like any other capital must be utilised effectively and sustainably
Environmental Capital
The two types of government policy in alphabetical order
Demand-side Policy and Supply-side Policy
That one of the three principal measures from the circular flow of income, expenditure, and output model which best describes the structure of an economy
Output-side Estimate
Policies that are directed at aggregate demand, being either monetary or fiscal
Demand-side Policies
The highest point of the trade cycle, where growth and employment are very high and unemployment low, possibly with inflation also being high and increasing
Boom
That which economic growth may cause as the increase in consumption increases imports, making less available for export, while the exchange rate may rise making exports more expensive
Current Account Deficit
Save Your Stats
Your Next Quiz
Countries of Europe in 1848
With the help of a map, can you name the countries which existed during the Revolution of 1848?
Landlocked Countries - Sudden Death
Click all the landlocked countries without clicking any countries which border the sea.
Be Happy - Sudden Death
Uh oh, my literary character is happy, but that’s such a boring word! Help me by clicking only words that mean “happy”.
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