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Economics Quiz
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Economics Quiz

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@FrugalAmetrine

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Questions and Answers

Which of the following is NOT a key question in economics?

  • Factors determining total income
  • Equilibrium of supply and demand (correct)
  • Income distribution among factors
  • Purchases in the economy

    • What does GDP measure?

  • Total output and income (correct)
  • Total output and population
  • Total income and consumption
  • Total population and income

    • What are the factors that determine total production (GDP)?

  • Savings and investment
  • Government revenue and spending
  • Technology and consumption
  • Capital and labor (correct)

    • What are the crucial inputs for production?

    <p>Capital and labor</p> Signup and view all the answers

    What does the production function relate?

    <p>Capital, labor, and output</p> Signup and view all the answers

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