NAME: Hector Trujillo ANGLICAN CATHEDRAL COLLEGE

CLASS: 4 Sylvester APRIL 23, 2021

ECONOMICS QUIZ

MUTILPLE CHOICE: Complete by HIGHLIGHTING OR BOLD YOUR RESPONSE (2points EACH)

Items 1, 2 and 3 are based on the following 5. Encouraging people to take advantage of
case: APE is the Association of Professional information services is a solution to
Engineers. It is a trade union for engineers only. this type of unemployment.
Petroleum Services Limited has made an (A) cyclical
agreement with APE (B) structural
that it will only employ workers who are (C) real wage
members of APE. (D) frictional

1. What is a trade union? 6. The Nurses Association of Belize is an

(A) A group of firms who employ the same type example of a:
of workers (A) general
(B) An association of workers who bargain for (B) industrial
increased wages for some workers (C) craft
(C) A group of workers who go to complain to (D) none of the above
the boss about an issue
(D) An association of workers who have come 7. Which of the following factors influence the
together to protect and represent the level of exports?
interests of all the members (A) domestic income levels
(B) information, the mass media and changing
2. What type of trade union is APE? tastes of consumers
(A) General union (C) the type of goods imported
(B) Craft union (D) the quality of imported goods
(C) Workers’ union
(D) Industrial union 8. What is a disadvantage of international
trade?
3. What is the name of the policy being (A) The world is a market for your product.
practiced by Petroleum Services? (B) There is a larger variety of goods available.
(A) Closed shop (C) A country is able to earn foreign exchange.
(B) Open door (D) A country may become dependent on
(C) Sit-in other countries for vital products.
(D) Demarcation
9. A country has a/an _________________ if it
4. Under what factor of production would you produces more goods and services compared
classify marine products such as fish? with other countries with the same quantity of
(A) Land resources.
(B) Labour (A) comparative advantage
(C) Capital (B) absolute advantage
(D) Entrepreneurship (C) gains from trade
(D) none of the above

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10. A ______________ is a stoppage of work
caused by the mass refusal by employees to 16. Which of the following is NOT a type of
work. trade union?
(A) sabotage (A) industrial unions
(B) strike (B) tertiary sector
(C) work-to-rule (C) craft unions
(D) slow-down (D) white-collar unions

11. All of the following are forms of trade union 17. When employees perform their duties but
unrest EXCEPT: try to reduce productivity when performing
(A) go-slows these duties, this is known as
(B) lockouts _______________.
(C) sit-downs (A) slow-downs
(D) work-to-rule (B) sabotage
(C) work-to-rule
12. Which of the following is NOT a driver of (D) none of the above
economic growth?
(A) technological advancements 18. Caribbean economies are typically
(B) a large dependent population ___________________.
(C) land and other natural resources (A) small open economies
(D) human capital (B) small closed economies
(C) developed economies
13. All of the following are the result of (D) socialist economies
economic development EXCEPT?
(A) increased dependence on the agricultural 19. The exchange rate is _______________.
sector (A) the rate of demand and supply
(B) increased access to education (B) a change from devaluation to revaluation of
(C) increased real per capita gross domestic the currency
product (C) a change from depreciation to appreciation
(D) increased access to health care of the currency
(D) the rate at which one country’s currency
14. The Human Development Index measures a can be exchanged for another country’s
country’s average achievements in all of the currency on the foreign exchange market
following areas EXCEPT:
(A) literacy 20. Macroeconomics means:
(B) unemployment (A) The study of the education sector rather
(C) life expectancy than other elements of the economy
(D) real income (B) The study of the economy of the individual
markets and other elements rather than its
15. Which of the following is not a whole
measurement of the Human Poverty Index? (C) The study of the economy as a whole
(A) the literacy rate rather than the individual markets and
(B) the unemployment rate other elements
(C) percentage of people without access to (D) The study of the transportation sector and
health care the economy as a whole
(D) percentage of underweight children under
five years old

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