Economics 2023 May/June Paper1 SECTION A 1.1
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Question 1 of 8
1. Question
QUESTION 1
1.1 Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.This is how your instructions will be in the exam, for this exam practice, just select the correct answer.
1.1.1 The nominal value of all final goods and services produced within
the boundaries of a country is known as GDP at …CorrectIncorrect -
Question 2 of 8
2. Question
1.1.2 A grouping of various indicators of the same type into a single
value is referred to as …indicators.CorrectIncorrect -
Question 3 of 8
3. Question
1.1.3 State-owned enterprises that provide public goods and services
are called …CorrectIncorrect -
Question 4 of 8
4. Question
1.1.4 When a country can produce a product at a lower opportunity cost
than any other country, it is known as … advantageCorrectIncorrect -
Question 5 of 8
5. Question
1.1.5 The co-ordination of various social, fiscal and monetary policies
among the member countries is required in a/an …CorrectIncorrect -
Question 6 of 8
6. Question
1.1.6 The economic policy that aims to eliminate poverty and reduce
inequality by 2030 is called the …CorrectIncorrect -
Question 7 of 8
7. Question
1.1.7 The use of science and technology to promote industrial
development is part of the …CorrectIncorrect -
Question 8 of 8
8. Question
1.1.8 Bank notes and coins in circulation and demand deposits in the
banking sector, is classified as … money supplyCorrectIncorrect
