Macroeconomics trivia

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• Which money measure covers cash and demand deposits along with time deposits and other assets that turn into cash fairly easily?Monetary policy and central banks
• Which policy tries to steady the economy by adjusting the amount of money in circulation or the interest rate?Monetary policy and central banks
• Which body issues currency in South Korea?Monetary policy and central banks
• What does a central bank commonly do when the economy is weak?Monetary policy and central banks
• Which arrangement makes a bank hold back a set share of its deposits?Monetary policy and central banks
• What is quantitative easing (QE)?Monetary policy and central banks
• Which goal does the Bank of Korea hold as the most important in monetary policy?Monetary policy and central banks
• Which direction does a central bank take when prices are rising sharply?Monetary policy and central banks
• Which of the following is not a monetary policy tool of a central bank?Monetary policy and central banks
• When the economy is weak, a central bank normally tightens and cuts the money supply.Monetary policy and central banks
• Raising the reserve requirement ratio puts more money into circulation.Monetary policy and central banks
• What is the official currency unit of South Korea?Monetary policy and central banks
• The central bank of South Korea is the Financial Supervisory Service.Monetary policy and central banks
• In South Korea one won is made up of 100 jeon, and the jeon is widely used in everyday transactions.Monetary policy and central banks
• Monetary policy tries to steady the economy by adjusting the amount of money in circulation or the interest rate.Monetary policy and central banks
• In South Korea the Bank of Korea is the only place that may issue banknotes.Monetary policy and central banks
• An ordinary commercial bank may also print banknotes itself when it needs to.Monetary policy and central banks
• Monetary policy is mainly the central bank's business, and fiscal policy the government's.Monetary policy and central banks
• When prices are rising sharply, a central bank generally tightens and pulls money back in.Monetary policy and central banks
• The reserve requirement makes a bank hold back a set share of its deposits.Monetary policy and central banks
• Which international body sets the rules of trade between countries and settles disputes?Trade and the balance of payments
• What do we call selling a country's goods abroad?Trade and the balance of payments
• What does the abbreviation FTA refer to?Trade and the balance of payments
• What do we call a tax levied on imported goods?Trade and the balance of payments
• Which resource does Korea depend on imports for almost entirely?Trade and the balance of payments
• What is a trade surplus?Trade and the balance of payments
• What is the core of the theory of comparative advantage?Trade and the balance of payments
• What do we call the state in which exports come to more than imports?Trade and the balance of payments
• Which principle says that specializing where the opportunity cost is relatively low and then trading leaves a country better off?Trade and the balance of payments
• Raising the tariff on an imported good generally makes that good cheaper at home.Trade and the balance of payments
• The point of signing an FTA is to raise tariffs on each other.Trade and the balance of payments
• What does exporting mean?Trade and the balance of payments
• Selling goods made at home to another country is called exporting.Trade and the balance of payments
• A tax levied on imported goods is called a tariff.Trade and the balance of payments
• Countries are good at making different things, so trading with one another can leave both better off.Trade and the balance of payments
• Buying goods in from another country is called exporting.Trade and the balance of payments
• Korea is rich in crude oil and produces most of what it uses at home.Trade and the balance of payments
• When exports come to more than imports, the trade balance is said to be in surplus.Trade and the balance of payments
• An FTA is an agreement between countries to lower or remove tariffs on each other.Trade and the balance of payments
• Even a country that makes everything better can gain from trade by concentrating on what it is relatively better at.Trade and the balance of payments
• Which body decides Korea's base rate?Interest rates
• What generally happens to the demand for loans when rates rise sharply?Interest rates
• What generally happens to the price of bonds already issued when market rates rise?Interest rates
• What is the name of the body at the Bank of Korea that sets the base rate?Interest rates
• What do we call the rate of interest attached to borrowing money or leaving it on deposit?Interest rates
• As a rule, which is higher, the deposit rate or the lending rate?Interest rates
• What does a rate given as '3% a year' mean?Interest rates
• What changes for a saver when rates rise?Interest rates
• What generally follows when a central bank raises its base rate?Interest rates
• What changes for a borrower when rates rise?Interest rates
• Korea's base rate is set by the Bank of Korea.Interest rates
• When rates rise, saving generally becomes more attractive.Interest rates
• When market rates rise, the price of bonds already issued generally falls.Interest rates
• When rates rise, people try to borrow more money.Interest rates
• Korea's base rate is set by the National Tax Service.Interest rates
• An interest rate means the rate of interest attached to borrowing money or leaving it on deposit.Interest rates
• As a rule the lending rate is higher than the deposit rate.Interest rates
• Whether rates rise or fall, the interest burden on a loan does not change at all.Interest rates
• '3% a year' means an interest rate measured against a period of one year.Interest rates
• Everyone always borrows money at exactly the same rate.Interest rates