Q1 MCQ Drill: 2022 Economics P1 (2022 September Provincial Preparatory (Trial) Examination)

Economics Past Paper Question 1 Drill Level 1: Knowledge & Recall

12:00

8 multiple-choice questions taken verbatim from Section A of the official 2022 September Provincial Preparatory (Trial) Examination Economics Paper 1, auto-marked against the official marking guideline. Questions that rely on diagrams or graphs are excluded - see the full paper for those.

Question 1 of 8 2 Marks

National income will increase when …

A. I + G + X = S + T + M.

B. I + G + X > S + T + M.

C. I + G + X < S + T + M.

D. I + G + X – S + T + M.

Question 2 of 8 2 Marks

The type of business cycle caused by changes in net investments by government and businesses is called …

A. Kondratieff.

B. business.

C. Jugler.

D. Kitchin.

Question 3 of 8 2 Marks

The feature of public sector failure where government miss inflation and growth targets is related to …

A. ineffectiveness.

B. the Pareto efficiency.

C. inefficiency.

D. bureaucracy.

Question 4 of 8 2 Marks

An increase in export prices shows a(n) … in terms of trade of a country.

A. improvement

B. deterioration

C. balance

D. disequilibrium

Question 5 of 8 2 Marks

A measure to stimulate the supply side approach is …

A. the monetary policy.

B. inflation targeting.

C. fiscal measures.

D. cost of doing business.

Question 6 of 8 2 Marks

A best international practise criteria which focuses on ensuring that the benefits of one region spill over to other industries and areas is …

A. good governance.

B. integration.

C. provision of resources.

D. partnerships.

Question 7 of 8 2 Marks

4 ECONOMICS P1 (EC/SEPTEMBER 2022) The category of money supply that consists of notes and coins in circulation and demand deposits of the domestic private sector at banks is …

A. M2.

B. M3.

C. M1.

D. M3+

Question 8 of 8 2 Marks

4 ECONOMICS P1 (EC/SEPTEMBER 2022) A trade protocol where member countries allow for the free movement of factors of production between member countries is a(n) …

A. economic union.

B. customs union.

C. free trade area.

D. common market.

Q1 MCQ Drill: 2022 Economics P1 (2022 September Provincial Preparatory (Trial) Examination)

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