WEC12_MC_20' - 22'

202001Q1. Mongolia experiences higher unemployment in the winter when the demand for agricultural labour is lower than in the summer months. Which one of the following best describes the cause of unemployment experienced in Mongolia?（）?

A、Seasonal unemploymentB、Real wage inflexibilityC、Structural unemploymentD、Demand deficiency

202001Q2. The table shows the number of people in employment in Jordan.

What is the percentage change in the number of people in employment?（）?

A、-10%B、-9%C、9%D、10%

202001Q3. In 2017 Uzbekistan experienced an 8% increase in real GDP. Which one of the following is most likely to be a benefit of economic growth?（）?

A、Environmental damageB、Improved public servicesC、A negative output gapD、A decrease in tax revenues

202001Q4. The diagram shows a shift in the aggregate demand curve for an economy.

Which of the following combinations was the most likely cause?（）?

A、B、C、D、

202001Q5. The Ethiopian Government has made significant investments in irrigation... The UK Government paid a subsidy for a windfarm. Which one of the following is also an interventionist supply-side policy?（）?

A、Deregulation of the labour marketB、PrivatisationC、A reduction in interest ratesD、Regional policy

202001Q6. The chart shows the UK balance of trade on current account, month on month,
May 2017 to May 2018 (£ billion, seasonally adjusted).

What can be deduced from this chart?

A、The trade in services balance was in deficit in May 2017B、The trade in goods deficit was smallest in February 2018C、The value of exports exceeded the value of imports in September 2017D、The total UK trade deficit was the largest in November 2017

202101Q1. Which one of the following aggregate demand and aggregate supply diagrams
below illustrates an economy experiencing potential economic growth?

A、AD shift rightB、SRAS shift rightC、LRAS shift rightD、SRAS shift left

202101Q2. The table shows the annual percentage change in South Korea’s producer (wholesale)
price index.

Which one of the following was the most likely effect of the changes shown in
South Korea?

A、Real incomes of households were likely to fallB、Cost-push inflation was likely to occurC、Consumer prices were likely to fallD、Central bank was likely to raise the base rate

202101Q3. Which one of the following is most likely to cause a deterioration in a developed country's trade balance?（）?

A、Increase in non-price competitivenessB、Fall in real incomes of citizensC、Fall in non-price competitiveness of partnerD、An increase in the country's exchange rate

202101Q4. The chart shows Portugal’s household savings ratio by quarter, Q1 2014–Q2 2019.

According to the long-term trend in the chart, ceteris paribus, which one of the
following is most likely to have risen in Portugal?

A、ConsumptionB、ExportsC、UnemploymentD、Withdrawals

202101Q5. Which one of the following statements about the Keynesian LRAS curve is correct?（）?

A、Perfectly inelastic at full employment levelB、Relatively elastic at full employment levelC、Relatively inelastic at high spare capacityD、Perfectly inelastic at high spare capacity

202101Q6. An economy has the following injections into, and withdrawals from, its circular flow
of income in one year.

Which one of the following can be concluded from the data?

A、Government budget surplusB、Net withdrawal out of the economyC、Balance of trade surplusD、Net injection into the economy

202201UQ1. The chart shows the quarterly real GDP growth rate for Greece from Quarter 1 2016 to
Quarter 3 2020.

Which one of the following can be deduced from the chart?

A、Recession in Q1/Q2 2016B、Negative growth throughout 2017C、Positive growth in Q3 2019D、Greece experienced a recession in Quarter 2 of 2020

202201UQ2. In the USA (2020), 33.8% of graduates worked in jobs not requiring a degree. Which describes this?（）?

A、Real wage inflexibilityB、Economic inactivityC、UnemploymentD、Underemployment

202201UQ3. Labour productivity in Ireland improved by 9.8%. What was the most likely impact?（）?

A、AD shifted to the leftB、AD shifted to the rightC、LRAS curve shifted to the rightD、SRAS curve shifted to the left

202201UQ4. German tax revenue exceeded expenditure by €45.35 billion. Which can be deduced?（）?

A、Germany had a net withdrawal from the circular flowB、Germany had a net injection into the circular flowC、Deficit on current accountD、Surplus on current account

202201UQ5. The short-run Phillips curve shows the relationship between:（）?*

A、Economic growth and EnvironmentB、Rate of inflation and Unemployment rateC、Inflation and Current accountD、Growth and Income inequality

202201UQ6. Gov spends $19bn, Multiplier is 2.45. Potential increase in real GDP?（）?

A、$7.76 billionB、$21.45 billionC、$46.55 billionD、$65.55 billion

202201Q1. Which one of the following is compared when calculating PPP?（）?*

A、The price of a basket of comparable goods and services in different countriesB、Real incomes, happiness and wellbeingC、External value of currency in USDD、Inflation rates over a time period

202201Q2. The table below shows Bahrain’s Gross National Income (GNI) between 2017
and 2019.

If 2017 is the base year, which one of the following represents the index number
for 2019?

A、100.0B、102.0C、106.3D、108.4

202201Q3. Which one is likely to cause a decrease in the value of a country’s multiplier?（）?

A、Decrease in MPTB、Decrease in MPSC、Increase in MPMD、Increase in MPC

202201Q4. The chart shows Egypt’s net monthly balance of trade in goods and services,
January 2019 to October 2020.

Which one of the following can be deduced from the chart over the period shown?

A、Injections > WithdrawalsB、G > TC、Trade surplusD、The value of imports was always greater than exports

202201Q5. Netherlands savings ratio increased from 15.3% to 24.3%. Ceteris paribus, most likely effect?（）?

A、Decrease in withdrawalsB、Increase in injectionsC、A decrease in consumptionD、An increase in imports

202201Q6. The table shows the annual percentage change in the real GDP of Canada between
2017 and 2019. The long-term trend rate of economic growth for the economy is
estimated to be 2.7%.

Which one of the following can be deduced from the table?

A、Positive output gap increased 2017-18B、There was a negative output gap in 2018 and 2019C、There was a positive output gap in 2018 and 2019D、Negative output gap decreased 2018-19

202106Q1. UK graduates in 2019: 800,000; 380,000 started work in jobs not requiring a degree. Which describes this?（）?

A、UnderemploymentB、UnemploymentC、Real wage inflexibilityD、Economic inactivity

202106Q2. Brazil’s annual rate of inflation between April 2019 and August 2019 is shown in
the table.

Which one of the following can be deduced from the table?

A、Deflation between April and JulyB、Average price level was highest in AprilC、There was disinflation between April and JulyD、Inflation lowest in August

202106Q3. South Africa gov expenditure as % of GDP rose from 31.4% to 34.6%. Likely cause?（）?

A、Lower welfare paymentsB、Lower exchange rateC、Less economic activityD、Increased business confidence

202106Q4. The diagram shows an economy’s actual growth rate and trend growth rate.

Which one of the following can be deduced from the diagram?

A、Recovery between U and VB、Positive gap at VC、Unemployment rising W to XD、A positive output gap exists at point X

202106Q5. Japan private sector investment increased by 1.9%. Likely cause?（）?

A、Decrease in economic growthB、Increase in indirect taxC、Increase in corporation taxD、A decrease in interest rates

202106Q6. Denmark MPC is 0.49. Value of multiplier?（）?

A、0.51B、1.96C、2.04D、4.90

202206Q1. It is estimated that the marginal propensity to consume (MPC) in Germany is 0.4. Which one of the following represents the value of the multiplier in Germany?（）?

A、0.5B、0.6C、1.7D、2.5

202206Q2. India's central bank... Which one of the following is also a role of the central bank?（）?

A、Increasing the trade deficitB、Acting as the lender of last resortC、Achieving national happinessD、Reducing income equality

202206Q3. In Indonesia it is estimated that approximately 27% of part-time workers are employed for fewer hours than they would be willing to work. Which one of the following may be deduced?（ A ）? A、There is a high level of underemployment in Indonesia

B、There isB、There is a high level of economic inactivityC、There is a high rate of unemploymentD、There is a high rate of inflation

202206Q4. The chart shows the annual rate of inflation in Colombia, measured by the
Consumer Price Index (CPI), January 2016 to December 2020.

Which one of the following can be deduced from the chart over the period shown?

A、Disinflation Jan 2016 - July 2016B、Deflation Jan 2017 - July 2017C、Price level unchanged Jan 2019 - July 2019D、The average price level was lower in January 2020 than in July 2020

202206Q5. Italy spent €945.6bn and received €789.3bn in tax. Policy to achieve a balanced budget?（）?

A、Deflationary monetary policyB、Reflationary monetary policyC、Deflationary fiscal policyD、Reflationary fiscal policy

202206Q6. The diagram shows the short-run aggregate supply curve and the aggregate demand
curve for China’s economy.

Which one of the following was the most likely cause of the change from
SRAS1 to SRAS2?

A、An increase in energy pricesB、A decrease in indirect tax ratesC、An increase in investment in educationD、A decrease in bank lending to consumers

202005Q1. MPC in China is 0.5. Gov increased spending on infrastructure by ¥1.5 billion. Final increase in GDP?（）?

A、¥0.50 bnB、¥0.75 bnC、¥2 bnD、¥3 bn

202005Q2. The table shows the consumer price index (CPI) for the UK in January 2015 and January 2016.

What can be deduced from this data over this period?

A、The purchasing power of money fell by 3%B、The rate of inflation was 6%C、The standard of living must have fallen by 3%D、The price of exports increased by 6%

202005Q3. Which one of the following is an injection into the circular flow of income?（）?

A、SavingsB、ExportsC、ImportsD、Taxation

202005Q4. In the USA, 4.3 million part-time workers preferred full-time employment. Example of?（）?

A、Frictional unemploymentB、ProtectionismC、UnderemploymentD、Resource utilisation

202005Q5. Unemployment rate in Spain fell from 21% to 15%. Most likely associated with?（）?

A、A fall in the negative output gapB、A rise in the level of welfare paymentsC、A fall in demand for exportsD、A rise in economic inactivity

202005Q6. The chart shows the value of the Canadian dollar in terms of the US dollar exchange rate,
January 2018 to December 2018.

What can be deduced from this chart?

A、Exports less competitiveB、Imports more competitiveC、Feb-June, CAD increased valueD、Between October and December, the Canadian dollar decreased in value against the US dollar

202210Q1. Which one of the following illustrates the conflict between low inflation and low unemployment?（）?

A、A long-run classical AS curveB、An AD curveC、A short-run Phillips curveD、A SRAS curve

202210Q2. Workers in India left their jobs to search for new employment. Describe this?（）?

A、Demand deficientB、FrictionalC、SeasonalD、Structural

202210Q3. Saudi Arabia: Spending $255bn, Tax revenue $279bn. Deduced?（ A ）?

A、There will be a net withdrawal from the circular flow of incomeB、There will be a net injection into the circular flowC、Balance of trade deficitD、Balance of trade surplus

202210Q4.The chart shows France’s monthly balance of trade in goods and services,
January 2021 to November 2021.

Which one of the following is the most likely reason for this trend in France’s balance
of trade in goods and services?

A、Increase in savings ratioB、Increase in relative productivityC、An increase in the exchange rateD、An increase in the quality of exports

202210Q5. USA central bank increased QE from $7.3 trillion to $8.8 trillion. Likely impact?（）?

A、Decrease in availability of creditB、Decrease in rate of inflationC、Increase in rate of unemploymentD、An increase in the money supply

202210Q6. The table shows Ireland’s Gross Domestic Product (GDP) between 2018 and 2020.

Which one of the following represents the index number for 2020, if 2018 is the
base year?

A、90.37B、93.71C、106.72D、110.65

202110Q1.The table shows the real GDP growth rate and the unemployment rate for the USA for
Quarter 1 and Quarter 2 in 2020.

Which one of the following is most likely to have caused the increase in the
unemployment rate between Q1 2020 and Q2 2020?

A、Real wage unemploymentB、Demand deficient unemploymentC、Structural unemploymentD、Seasonal unemployment

202110Q2.In June 2020 the Bank of England increased the value of its asset purchases scheme
(quantitative easing) by £100 billion.
Which one of the following correctly describes this economic policy?

A、Reflationary monetary policyB、Deflationary monetary policyC、Reflationary fiscal policyD、Deflationary fiscal policy

202110Q3. From Quarter 1 2020 to Quarter 2 2020, government expenditure in Russia increased
by 25 billion roubles.
Ceteris paribus, what was the most likely effect of this increase?

A、Aggregate demand decreasedB、Withdrawals increasedC、Aggregate supply decreasedD、Injections into the circular flow increased

202110Q4. The chart shows China’s monthly balance of trade in US dollars from June 2019 to
May 2020.

Which one of the following can be deduced from the chart?

A、China had a current account deficit in August 2019B、China’s balance of trade surplus remained the same from January toFebruary 2020C、China’s balance of trade surplus increased from April to May 2020D、The value of China’s exports decreased from February to March 2020

202110Q5. Which one of the following is most likely to result in an increase in investment?（）?

A、An increase in corporation taxB、An increase in the rate of tax relief for investmentC、An increase in the central bank's interest rateD、An increase in commercial banks' reserve requirements

202110Q6. The table shows the GDP and the population for India and Pakistan in 2019.

Which one of the following can be deduced from the table?
GDP per capita was

A、$202.77 in PakistanB、$1 357.07 in IndiaC、$1 887.76 in IndiaD、$12 634.15 in Pakistan

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