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Pertanyaan ke-1

A country has ..….. when it can produce something more efficiently than another country.

a. absolute advantage
b. balance of payment
c. asset
d. bankruptcy
Right, absolute advantage is the key.

Pertanyaan ke-2

An economic system exists to distribute these resources, and an efficient economic system is one that allocates them
best is called ….

a. absolute advantage
b. allocation of resources
c. aggregate demand
d. antitrust
Right, allocation of resources is the key.

Pertanyaan ke-3

A rise in the price of a currency relative to other currency is called ....

a. arbitrage
b. asset
c. antitrust
d. appreciation
Right , appreciation is the key.

Pertanyaan ke-4

….. involves a complex set of activities, including foreign exchange operations which are mostly monotonous.
 a. Balance of payments
b. Balance sheet
c. Bank failure
d. Bankruptcy
Good, balance of payments is the key.

Pertanyaan ke-5

.... is a technical term for the ups and downs in the economic growth rate.

a. Balance of payment
b. Business cycle
c. Bank failure
d. Balance sheet
Very good, business cycle is the key.

Pertanyaan ke-6

The net addition to the capital stock in a given period is called …

a. capital market
b. human capital
c. capital formation
d. capital
Excellent, capital formation is the key.

Pertanyaan ke-7
... is a handy Latin phrase meaning all other things being equal.

a. Credit
b. Credit crunch
c. Comparative advantage
d. Ceteris paribus
Good, the key is ceteris paribus.
 Pertanyaan ke-8

The idea that people purchase things primarily to impress their neighbours is …....

a. conspicuous consumption
b. consumer goods
c. consumer price index
d. consumer sovereignty
Right, the key is conspicuous consumption.

Pertanyaan ke-9

When economic growth turns steeply for a prolonged period it is called ....

a. devaluation
b. depreciation
c.disinflation
d. depression
Very good, the key is depreciation.

Pertanyaan ke-10
.... is a rather inelegant name for the practice of selling products abroad at cheaper prices than they are sold at home.

a. Disinflation
b. Disequilibrium
c. Dumping
d. Dissaving
Good, dumping is a rather inelegant for the practice of selling products abroad at cheaper prices than
they are sold at home saving.

Pertanyaan ke-11
A heavy – duty principle of economics. It states that the continued addition of one factor
of production –land, labor, or capital– when the other two are held constant, will
eventually lead to less and less additional production. This is called …
 a. disequilibrium
b. depreciation
c. disinflation
d. depression
Excellent, depreciation is the key.

Pertanyaan ke-12
.... is a seemingly blissful situation created by the Federal Reserve Bank to reduce interest rates by
expanding the amount of credit available.

a. Easy money
b. Economic efficiency
c. Economic indicators
d. Equilibrium
Congratulations, easy money is the key.

Pertanyaan ke-13
A condition that is achieved when resources are used without undue waste, cost and
effort is ....

a. econometrics
b. easy money
c. economic efficiency
d. economic indicators
Yes, economic efficiency is the key.

Pertanyaan ke-14
.... is a measurement of the responsiveness of one variable to changes in another.

a. Economic efficiency
b. Econometrics
c. Elasticity
d. Economic indicators
Yes, elasticity is the key.

Pertanyaan ke-15
.... is a side effect, or spillover, from an activity that does not naturally have a market price.
 a. Entrepreneur
b. Expectations
c. Elasticity
d. Externality
Excellent, externality is the key.

Pertanyaan ke-16
A resource that is used to produce goods and services is …

a. final goods and services

b. financial intermediary
c. fine tuning
d. factor of production
Very good, factor of production is the key.

Pertanyaan ke-17
.… is an institution that links savers with borrowers.

a. Fine tuning
b. Financial intermediaries
c. Firm
d. Federal Reserve Bank
Yes, financial intermediaries is the key.

Pertanyaan ke-18
A situation in which government not interfere with the international exchange of goods is
called ....

a. full employment
b. final food and services
c. free trade
d. foreign exchange market
Right , free trade is a situation in which governments do not interfere with the international exchange of
goods.

Pertanyaan ke-19
.... is international rules of good behaviour on trading matters.
 a. GATT
b. Gentlemen’s agreement
c. Game theory
d. General equilibrium
This is the key. GATT is general agreement on tariffs and trade. International rules of good behaviour on
trading matters.

Pertanyaan ke-20
Protecting oneself against loss due prices changes, especially by buying at a fixed price for future
delivery is called ....

a. handling charge
b. hire purchase
c. hard currency
d. hedging
Yes, hedging is the key.

Pertanyaan ke-21
….. is money moved around quickly and or regularly by its owners into countries, or investment, e.g. to
get the highest interest rates.

a. Hire purchase
b. Hot money
c. Hedging
d. Hard currency
Yes, hot money is the key.

Pertanyaan ke-22
Method of changing process for goods and services by linking them to changes in the
rate of inflation is called ....

a. indexation
b. inflation
c. inferior good
d. investment
Excellent. Indexation is the key.

Pertanyaan ke-23
…. is when economic policy takes the form of moral exhortation or persuasion.
 a. Invisible hand
b. Inventory
c. Jawboning
d. Incentive
Yes, jawboning is the key.

Pertanyaan ke-24
The process of giving feedback in their performance of a task is …

a. key result area

b. Kelly repertory grid
c. key individuals
d. knowledge of results
Good. Knowledge of results is the key.

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Pertanyaan ke-25
One of the group of measures of the country’s economic health prepared by the
Department of Commerce is …

a. laissez-faire
b. lagging indicators
c. Laffer curve
d. leading indicators
Peninggalan di bidang pertanian adalah tumbuhnya daerah pertanian yang luas yang kerap
disebut dengan Villas. Setiap daerah pertanian ini dikuasai oleh seorang bangsawan ketrurunan
Roma dan memiliki banyak pekerja. Biasanya villas ini letaknya tidak jauh dari kota dan
didukung dengan sarana Very good. Leading indicators is one of the group of measures of the country’s
economic health prepared by the Commerce Department.

Pertanyaan ke-26
….. is a formal way of designing a debt.

a. Liquidity
b. Labor theory of value
 c. Inability
d. Labour
Excellent, the key is liability.

Pertanyaan ke-27
When the Fed decides to make credit readily available to borrowers, it increases the
supply of money is called …

a. long run
b. loose money
c. market
d. mixed economy
Right, loose money is the key.

Pertanyaan ke-28
The study of how small changes – increases and decreases – in the total amount of one variable affect
one or more related variables is called ....

a. macroeconomics
b. mercantalism
c. marginal analysis
d. microeconomics
Yes, the key is marginal analysis

Pertanyaan ke-29
…. is a market with a one buyer.

a. Monopsony
b. Monopoly
c. Money supply
d. Money illusion
Good, monopsony is the key.

Pertanyaan ke-30
.... is a shorthand way of capturing a complicated process by which changes in
spending affect the level of national income.

a. Monetarism
b. Multiplier
 c. Mixed economy
d. Multinational corporation
Very good, the key is multiplier.

Pertanyaan ke-31
.... is another way of saying gross national product.

a. Nationalisation
b. Net worth
c. National debt
d. National income
Excellent. National income is the key.

Pertanyaan ke-32
.... is gross national product minus depreciation.

a. National debt
b. Net national product
c. Net worth
d. National income
Good, the key is net national product.

Pertanyaan ke-33
A way of competing for buyers without lowering prices is called ....

a. neoclassical economics
b. new classical
c. nonprice competition
d. normative economics
Very good, nonprice competition is the key.

Pertanyaan ke-34
.... is a situation in which a few sellers can control or dominate a market

a. Open market operations

b. Oligopoly
 c. Opportunity cost
d. Profit
Yes, oligopoly is the key.

Pertanyaan ke-35
.... is one that avoids the price mechanism as the main way to allocate resources.

a. Price system
b. Private sector
c. Productivity
d. Planned economy
Excellent, planned economy is the key.

Pertanyaan ke-36
Any extra revenue, after costs have been taken care of that temporarily accrues to a factor of production
is ....

a. quantity theory of money

b. quasy-rent
c. quota
d. radical economics
Good, quasy-rent is the key.

Pertanyaan ke-37
A school of thought that describes how people respond to economic events is called ....

a. reaganomics
b. national expectations
c. real
d. recession
Good, national expectations is the key.

Pertanyaan ke-38
.... is fiddling with data that are collected over time.

a. Satisficing
b. Say’s law
c. Seasonal adjustment
 d. Service economy
Very good, seasonal adjustment is the key.

Pertanyaan ke-39
…. improves the welfare society.

a. Social benefit
b. Social cost
c. Socialism
d. Stagflation
Right. Social benefit is the key.

Pertanyaan ke-40
… is a term capturing the way prices are set in a free market.

a. Supply shock
b. Supply and demand
c. Subsidy
d. Supply –side economics
Yes, the key is supply and demand.

Pertanyaan ke-41
Taxes imposed on imports are called …

a. tariffs
b. tax equity
c. tax incidence
d. tax expenditure
Absolutely right. Tariffs is the key.

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Pertanyaan ke-42
Workpersonlike word to describe the ineffable – the pleasure or fulfillment that people derive from
consuming a good or a service.

a. union
 b. unemployment
c. terms of trade
d. utility
Yes, utility is the key.

Pertanyaan ke-43
.... is the difference between the value of a firm’s output and the value of the input purchased in order to
produce.

a. Tight money
b. Value-added taxes
c. Barter
d. Deficit spending
Good, the key is value-added taxes

Pertanyaan ke-44
Rather imprecise term to describe any unexpected increase in income received by individuals or firms is
called ...

a. world bank
b. protectionism
c. windfall profits
d. welfare state
Very good, windfall profits is the key.

Pertanyaan ke-45
… is an element of game theory where one person’s gain is another person’s loss.

a. Recession
b. Council of economic advisers
c. Returns to scale
d. Zero-sum game
You’re right., zero-sum game (the key)