Gross domestic product (GDP) measures:

The total value of goods and services a country produces in a year

A recession is usually defined as:

Two consecutive quarters of falling real GDP

A sustained rise in the general price level

Rising costs of production such as wages or raw materials

Savers and people on fixed incomes

Willing and able to work and actively seeking a job but cannot find one

Government taxation and spending

Reduce spending and help control inflation

The central bank (Bank of England)

15questions. Pick an answer and you'll see why right away.

Which of these is one of the government's main economic objectives?
Gross domestic product (GDP) measures:
A recession is usually defined as:
A price index rises from 100 to 108 in a year. The rate of inflation is:
Inflation is best defined as:
Cost-push inflation is caused by:
Which group is most likely to lose from unexpected inflation?
A person is counted as unemployed if they are:
A country has a labour force of 5,000,000 and 250,000 unemployed. The unemployment rate is:
Unemployment caused by a recession and falling total demand is called:
Fiscal policy is the use of:
Which of these is an indirect tax?
A government raises £700bn in tax and spends £760bn. This is a:
Raising interest rates is most likely to:
Monetary policy in the UK is set by: