Macroeconomics trivia

160 Macroeconomics trivia questions, no sign-in. Review your misses in the LoreUp app.

• What do we call a bank's earnings from the gap between the rate it charges to lend and the rate it pays to hold deposits?Interest rates
• Which does not belong among a central bank's monetary policy tools?Monetary policy and central banks
• Which measure is an example of fiscal policy?Fiscal policy and taxation
• Monetary policy tries to steady the economy by adjusting the amount of money in circulation or the interest rate.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
• As a rule the lending rate is higher than the deposit rate.Interest rates
• What do we call the rate of interest attached to borrowing money or leaving it on deposit?Interest rates
• An FTA is an agreement between countries to lower or remove tariffs on each other.Trade and the balance of payments
• What do we call selling a country's goods abroad?Trade and the balance of payments
• An interest rate means the rate of interest attached to borrowing money or leaving it on deposit.Interest rates
• Which body surveys and publishes the consumer price index in Korea?Prices and inflation
• A general fall in prices is called inflation.Prices and inflation
• Which ministry draws up the government budget proposal in Korea?Fiscal policy and taxation
• What do we call the ratio at which one country's money is traded for another's?Exchange rates
• What do we call swapping your own money for another country's money?Exchange rates
• What do we call the movement in which the economy improves and worsens in turn?Cycles, growth and jobs
• What do we call a period of brisk production and consumption in which jobs also increase?Cycles, growth and jobs
• Which lists the four phases of the business cycle in the right order?Cycles, growth and jobs
• The business cycle is commonly divided into recovery, boom, contraction, and slump.Cycles, growth and jobs
• The reserve requirement makes a bank hold back a set share of the deposits it takes in rather than lending it out.Monetary policy and central banks
• Whether rates rise or fall, the interest burden on a loan stays exactly as set when the contract was signed.Interest rates
• The rate applied when borrowing from a bank is the same for everyone.Interest rates
• Deflation makes things cheaper, so it is good for the economy.Prices and inflation
• The fee for exchanging currency is set by law, so it is the same wherever you change it.Exchange rates
• Under a fixed exchange rate system, the central bank holds the rate without intervening in the foreign exchange market.Exchange rates
• Raising the tax rate raises tax revenue by the same measure.Fiscal policy and taxation
• Once the government sets an exchange rate, it stays pinned at that value and does not move.Exchange rates
• What do we call the document the government submits to the National Assembly setting out its spending plan for the year?Fiscal policy and taxation
• 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 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
• 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
• In South Korea the Bank of Korea is the only place that may issue banknotes.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
• An ordinary commercial bank may also print banknotes itself when it needs to.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
• Which international body sets the rules of trade between countries and settles disputes?Trade and the balance of payments
• What do we call a tax levied on imported goods?Trade and the balance of payments
• What does the abbreviation FTA refer to?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
• 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
• What do we call the state in which exports come to more than imports?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