If the value of imports exceeds the value of exports then trade balance is …

а) shortfall

б) deficit

в) surplus

г) debt

* Fill in the blanks with appropriate words:

The … of exchange for one euro is constantly changing.

а) ratio

б) rate

в) ration

г) exchange

* Fill in the blanks with appropriate words:

When there is excess demand, the relative price …

а) increases

б) decreases

в) remains unchanged

г) stabilizes

* Fill in the blanks with appropriate words:

… occurs when, at a particular market price, the quantity that suppliers want to provide to the market is less than the quantity that demanders want to purchase.

а) equilibrium

б) excess supply

в) excess demand

г) balance

* Fill in the blanks with appropriate words:

… is something tangible that is produced and consumed.

а) a market

б) a service

в) a good

г) equilibrium

* Match the definition with the term:

A difficult time when there is less trade, business activity in a country than usual.

а) depression

б) downturn

в) slowdown

г) recession

* Match the definition with the term:

A total amount of something that is available to be used.

а) aggregate demand

б) aggregate supply

в) aggregate real output

г) equilibrium

* Match the definition with the term:

An amount of money that one has not spent, or an amount of something that one has not used.

а) income

б) heritage

в) saving

г) capital stock

* Match the definition with the term:

An amount of money that you are given regularly or for a special purpose.

а) income

б) heritage

в) allowance

г) credit

* Match the definition with the term:

The use of money to get a profit or to make a business activity successful.

а) investment

б) allowance

в) inventories

г) capital stock

* Match the definition with the term:

Unemployment as a result of a problem with skills and training.

а) frictional unemployment

б) structural unemployment

в) cycle unemployment

г) true unemployment

* Match the definition with the term:

A maximum amount that the economy can produce.

а) real output

б) aggregate real output

в) productive inputs

г) production possibilities

* Match the definition with the term:

A date or time by which you have to do or complete something.

а) endline

б) finishline

в) deadline

г) deadlock

* Odd one out:

The type of unemployment that does not exist:

а) frictional unemployment

б) structural unemployment

в) cycle unemployment

г) phase unemployment

* Odd one out:

Fiscal activities of the government do not include:

а) government spending

б) taxes

в) transfer payment

г) subsidies

* Odd one out:

The sources of macroeconomic stability do not include:

а) predictability

б) automatic stabilizer

в) government expenditures stability

г) the government’s transfer system

* Odd one out:

Potential real output is not determined by:

а) the natural resources available to an economy

б) the number of the population of a country

в) the technologies available within an economy

г) the accumulated amount of capital

* Odd one out:

The keys to successful problem solving do not include:

а) using employees’ suggestions

б) drawing employees’ contributions

в) following your own decisions

г) following up the results

* Odd one out:

Relationship behaviour does not imply:

а) supporting

б) facilitating

в) encouraging

г) manipulating

* Odd one out:

The important skills for motivating and controlling people toward accomplishment of planned objectives do not include:

а) understanding past behaviour

б) imitating past behaviour

в) predicting future behaviour

г) directing, changing and controlling behaviour

* Odd one out:

Leadership styles do not include:

а) “telling”

б) “demanding”

в) “selling”

г) “delegating”

* Fill in the blanks with appropriate word:

There will be an equilibrium in a labor market on condition labor resources are …

а) employed

б) used

в) available

г) produced

* Fill in the blanks with appropriate word:

Published unemployment data usually … the true unemployment.

а) overestimate

б) underestimate

в) estimate

г) reflect

* Fill in the blanks with appropriate word:

When labor is unemployed, nominal wage will begin to …

а) increase

б) change

в) fluctuate

г) decrease

* Fill in the blanks with appropriate word:

As real wages fall, real output in its turn will …

а) increase

б) change

в) stabilize

г) decrease

* Fill in the blanks with appropriate word:

Unemployment is a consequence of … wages.

а) nominal

б) real

в) sticky nominal

г) average

* Fill in the blanks with appropriate word:

A recession will be accompanied by … prices and nominal wages.

а) increasing

б) decreasing

в) sticky

г) changing

* Fill in the blanks with appropriate word:

Individual consumption is affected by individual …

а) investment

б) income

в) saving

г) capital

* Fill in the blanks with appropriate word:

Investment occurs when real output is used to … the existing capital stock.

а) increase

б) change

в) stabilize

г) decrease

* Fill in the blanks with appropriate word:

Increased government expenditure increases aggregate …

а) demand

б) supply

в) real output

г) income

* Fill in the blanks with appropriate word:

Appropriate fiscal policy will be more effective if stimulative policies … interest rates.

а) stabilize

б) do not stabilize

в) affect

г) do not affect

* Fill in the blanks with appropriate word:

An automatic stabilizer automatically … expenditures when an economy enters a recession.

а) stabilizes

б) changes

в) increases

г) decreases

* Fill in the blanks with appropriate word:

An automatic stabilizer automatically … expenditures when an economy enters a period of inflation.

а) stabilizes

б) changes

в) increases

г) decreases

* Fill in the blanks with appropriate word:

Because of the unemployment of more people during a recession, … increase(s).

а) government subsidies

б) government transfer policies

в) government spending

г) taxes

* Fill in the blanks with appropriate word: