GDP, inflation and exchange rates

Question 1 of 10

Real GDP is GDP adjusted for

A. inflation B. population C. exports D. taxes

Question 2 of 10

The Consumer Price Index measures changes in

A. the prices of a basket of goods and services B. the population C. exports only D. interest rates

Question 3 of 10

The Consumer Price Index rises from 110 to 120. What is the rate of inflation?

A. 120% B. 10% C. 12% D. about 9.1%

Question 4 of 10

Appreciation of the cedi makes imports

A. cheaper B. more expensive C. banned D. unchanged

Question 5 of 10

A depreciation of the cedi against the dollar makes Ghana's imports

A. cheaper in cedis B. more expensive in cedis C. unaffected D. free

Question 6 of 10

Gross Domestic Product (GDP) is the total value of

A. imports only B. all money in the banks C. final goods and services produced within a country in a year D. government spending only

Question 7 of 10

Per capita income is

A. national income divided by population B. national income times population C. total exports D. government income

Question 8 of 10

Inflation caused by rising production costs is

A. cost-push inflation B. demand-pull inflation C. deflation D. stagflation

Question 9 of 10

Purchasing power parity theory suggests exchange rates adjust to equalise

A. the price of identical goods in different countries B. interest rates C. population D. tax rates

Question 10 of 10

A fall in the value of the cedi against the dollar makes Ghana's imports

A. more expensive B. cheaper C. free D. unchanged

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New set of questions

Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.

Past questions, worked solutions and curriculum-mapped study material for JHS and SHS students and teachers in Ghana.

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