Start learning →

AP Intermediate 2nd Year Macroeconomics: Income, Budget & Banking — practice questions — page 3

Explore 98 free Macroeconomics: Income, Budget & Banking questions in AP Intermediate 2nd Year Economics. Open each question or exercise to read its content, reference answers and available explanation.

Practise Macroeconomics: Income, Budget & Banking with Quill →

Macroeconomics: Income, Budget & Banking questions and exercises with answers

Showing questions 61–90 of 98.

Complete the value added ruleRead the answer and worked solution →National income can be measured by the product method, the income method and the:Read the answer and worked solution →Final or intermediate good?Read the answer and worked solution →Tap the three methodsRead the answer and worked solution →National income numbersRead the answer and worked solution →National income bingoRead the answer and worked solution →The branch of economics concerned with aggregates such as GDP, employment and the price level is:Read the answer and worked solution →Income that households actually have available to spend or save, after taxes, is called:Read the answer and worked solution →Intermediate goods are excluded from national income to avoid the problem of:Read the answer and worked solution →Complete the money measureRead the answer and worked solution →Sort narrow and broad moneyRead the answer and worked solution →Match the function of moneyRead the answer and worked solution →Central bank or commercial bank?Read the answer and worked solution →Money and banking bingoRead the answer and worked solution →Which function of money?Read the answer and worked solution →A budget in which estimated receipts are equal to estimated expenditure is called a:Read the answer and worked solution →Receipts that either create a liability or reduce assets, such as borrowings, are called:Read the answer and worked solution →Match the budget termRead the answer and worked solution →True or false about the budgetRead the answer and worked solution →Sort the budget itemsRead the answer and worked solution →Complete the deficit formulaRead the answer and worked solution →Name the taxRead the answer and worked solution →A tax whose burden (incidence and impact) falls on the same person and cannot be shifted, like income tax, is a:Read the answer and worked solution →The excess of total expenditure over total receipts excluding borrowings is the:Read the answer and worked solution →A government budget is an annual statement of the estimated ___ of the government over a financial year:Read the answer and worked solution →Government budget bingoRead the answer and worked solution →Direct or indirect tax?Read the answer and worked solution →The allocation function of the government budget refers to the:Read the answer and worked solution →Borrowing by the government is treated as a capital receipt because it:Read the answer and worked solution →Fiscal deficit minus interest payments gives the:Read the answer and worked solution →

Worked practice questions

Complete the value added rule

Read exercise and reference answers
Missing parts
  1. Answer
    depreciation
    Choices
    1. depreciation
    2. wages
    3. exports
  2. Answer
    final
    Choices
    1. final
    2. intermediate
    3. imported
Complete the statement
Net value added is gross value added minus {0}, and GDP counts only {1} goods.
Instructions
Drag a word into each gap to finish the sentence.
_Source: syllabus Introductory Macroeconomics, Ch 2 'National Income Accounting'_

Open this exercise →

National income can be measured by the product method, the income method and the:

  1. ratio method
  2. expenditure method
  3. balance sheet method
  4. sampling method
Show answer and solution

Correct answer: B. expenditure method

The three methods: product (value added), income, and expenditure.

Open this question →

Final or intermediate good?

Read exercise and reference answers
Left
Final
Items
  1. Item
    Bought to consume
    Answer
    Final
  2. Item
    A capital good
    Answer
    Final
  3. Item
    Reaches the buyer
    Answer
    Final
  4. Item
    Used as raw input
    Answer
    Intermediate
  5. Item
    Resold by a firm
    Answer
    Intermediate
  6. Item
    Tea leaves to firm
    Answer
    Intermediate
Right
Intermediate
Instructions
Swipe left for a final good, right for an intermediate good.
_Source: syllabus Introductory Macroeconomics, Ch 2 'National Income Accounting'_

Open this exercise →

How to practise

  1. Choose a Macroeconomics: Income, Budget & Banking question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

Put it into practice

Continue with Macroeconomics: Income, Budget & Banking practice for AP Intermediate 2nd Year. Read explanations as you go. No signup form needed to start.

Practise Macroeconomics: Income, Budget & Banking →

More Economics topics

Determination of Income and EmploymentOpen Economy MacroeconomicsIntroduction to MicroeconomicsIndian Economy & Economic DevelopmentGovernment Budget and the EconomyMoney and BankingNational Income AccountingUnit 6B: International Trade and Trade Barriers