An economy that trades with and has financial dealing with other countries is called a/an ________ economy?

A. Free-trade
B. Autarkic
C. Open
D. Mixed

The record of country’s imports and exports of goods and services is called its ?

A. Visible trade balance
B. Balance of trade
C. Balance of payments on current account
D. Balance of payments.

The record of a county’s transfers of shareholding property and bank deposits to and from abroad is called its ?

A. Financial account on the balance of payments.
B. Balance of payments
C. Balance of payments on current account
D. Capital account of the balance of payments

The situation when a country imports more than it exports is ?

A. A recession
B. A trade surplus
C. A trade deficit
D. An expansion.

Which of the following is not likely to be government objective ?

A. Increasing employment
B. Increasing economic growth
C. Increasing government spending
D. Increasing the level of exports

The percentage of the labour force that is unemployed is the ?

A. Unemployment population ratio.
B. Unemployment rate
C. Employment rate
D. Labour force rate.

Since 1998 many government have defined unemployment using ?

A. A labour force survey.
B. The number out of work and claiming benefit
C. The percentage of the labour force not in work
D. The ilo/oecd standardised unemployment measurement

Classifying discouraged workers as unemployed would ?

A. Not change the unemployment rate
B. Decrease the unemployment rate
C. Increase the unemployment rate
D. Have an indeterminate impact on the unemployment rate

Aggregate demand is the total demand for all goods and services in an economy from ?

A. The household and government sectors
B. The household sector.
C. All sectors of except the rest of the world
D. All sectors of the economy including the rest of the world.

Unemployment resulting from real wages being above their equilibrium level is called _________ unemployment?

A. Natural
B. Frictional
C. Disequilibrium
D. Structural