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* ……… can be used to measure changes in prices over time.

) Low prices

-)A price index

-)- A statistical service

) High prices

* Service organizations face the problem of producing enough output

) to cope with customers

-) when a steady demand increases dramatically

) because they don’t cope with orders

-) to meet customer’s needs

* Organizations can maintain steady demand by

-) offering differential pricing

)- anticipating off-peak hours

-)giving employees more flexible work shifts

) participating in the service-delivery process

* Quality-control measures include

0) allowing customers to express dissatisfaction

)- good selection of personnel

) -training of personnel

) off-peak hours

*It is ……. to construct a price index.

-) not hard

) rather hard

-) not difficult

) difficult

*A base year is

-) a year that serves as the basis of comparison for all other years

-) a year that is compared to all other years

) a year that is not compared to other years

) a month that serves as the basis of comparison for all other years

*Capturing the overall trend in prices is ……. of the market basket of goods.

) a disadvantage

-) an advantage

-) a positive effect

) a negative effect

*The total

-) represents the prices of the market basket in the base year

) doesn’t represent the prices of the market basket in the base year

-) is assigned a value of 100 percent

) is assigned a value of 50 percent

* To find the new index number, the prices for each year that follows also must be


) counted

) filled in the application form

-) recorded

-) totaled

*This procedure of finding the new index number is repeated until the price index is

-) finished

-) complete

) unfinished

) incomplete

* Price indices can be constructed for

-) a number of different goods

-) agricultural products

) furniture

) money

* The 400 …………. used for the price index are taken from 85 areas around the country.

-) goods

-) services

) furniture

) money

*Which is correct?

) Some of items are bought in all the areas.

) Some of items are sold in all the areas.

-) Some of items are surveyed in all the areas.

-) Some of items are sampled in only a few areas.

* Which is correct?

-) Inflation is generally defined as a persistent rise in the general price level with no corresponding rise in output.

) Inflation is generally defined as a persistent fall in the general price level with the corresponding rise in output.

-) Inflation leads to a corresponding fall in the purchasing power of money.

) Inflation leads to a corresponding rise in the purchasing power of money.

* Inflation varies in its

-) extent

-) severity

) ways

) methods

*Hyperinflation creates

) job for unemployed

-) high rates of inflation

-) problems for the government and business

-) problems for the consumers and workers.

*Which is correct?

) Hyperinflation creates job for unemployed

-) Hyperinflation creates high rates of inflation

-) Hyperinflation creates problems for the government and business

-) Hyperinflation creates problems for the consumers and workers.


*In post-was Hungary …… to avoid the value of their earnings falling.

-) the costs were published each day

=) workers were paid daily

) workers were paid monthly

) the costs lowered each day

*In post-was Hungary business would have experienced great difficulty in ……their production

) output

-) pricing

-) costing

) development

*Economists argue about …… of inflation.

-) the cause

) the problem

) the variety

-) “curses”

*There exist two general types of inflation:

-) demand-pull inflation

) demand- push inflation

-) cost-push inflation

) cost- pull inflation

* Demand-pull inflation occurs when

-) injections exceed withdrawals

) companies push up prices

-) there is little scope to increase further

-) the economy is already stretched

* Which is correct?

-) Demand-pull inflation occurs when injections exceed withdrawals

) Demand-pull inflation occurs when companies push up prices

-) Demand-pull inflation occurs when there is available labour

-) Demand-pull inflation occurs when demand for the nation’s goods and services outstrips

* Cost-push inflation occurs when

-) there is an increase in wages

-) companies push up prices

-) costs of imported raw materials rises

) the economy is already stretched

* Something that helps you to be more successful than others, or the state of having this or a good or useful quality or condition that something has is known as …

0) advantage

) disadvantage

-) a good quality

) wish

* Something that causes problems, or that makes someone or something less likely to be successful or effective is known as …


) advantage

-) disadvantage

) hope

-) a bad quality

* The Bank of England is able … in the money market as a major borrower and lender

-) to act in a particular way

) to quarrel

) to travel

-) to operate

* The Bank of England has the power to … the commercial banks to make payments into a special account at the Bank of England

) present

) steal

-) order

-) rule

* To tax is to impose a financial charge or other levy upon a taxpayer by ……… such that failure to pay is punishable by law.

) an common entity

-) a state equivalent

-) the functional equivalent

) an general entity

*Goods are

) not swapped for other goods

) traded indirectly

-) swapped for other goods

-) traded directly


*The protection of consumer’s economic interests includes

) misleading advertising

-) a general ban on misleading advertising

-) a general ban on unfair terms in contracts with consumers

) unfair terms in contracts with consumers

* Customers should be able to make an informed choice among

) advertisements offered

) rights offered

-) goods offered

-) services offered

* Consumer rights to information and education include

-) information about their efficientand safe use

) setting dangerous requirements

) the business and finance services

-) objective information on the features and price of items available


*There need to be simple, affordable and rapid procedures for setting

-) complaints

-) claims

) advice

) ideas

* Representatives of consumers need to be present in decision-taking procedures on issues of concern to them at

-) local level

)- national level

)- EU level

) worldwide level

* On Union level consumer representation and participation covers not only specific consumer issues but also other relevant policy areas like

-) food laws, transport, competition policy

-) financial services, and environment

) complaints and claims

) the business and finance services

*The first directives of the first consumer program covered among other things

-) the safety of cosmetic products

)- the labeling of food stuff

) -misleading advertising

) information about their efficientand safe use

*The first directives of the first consumer program covered among other things

-) consumer rights in door-step selling

)- product liability

) -the provision of consumer credit

) complaints and claims

*Major EU-wide organizations with consumer interests include

-) The European Community of Consumer Cooperatives

) Organization for Security and Co-operation

-) The Confederation of Family Organizations in the European Union

-) The European Consumer’s Organization

*Major EU-wide organizations with consumer interests include

-) The European Trade Union Confederation

) Organization for Security and Co-operation

) Confederation of Family Organisations

-) The European Interregional Institute of Consumer Affairs

* The European commission created an independence Consumer Policy Service in 1989 in order to give ……. to the implementation of consumer policy.


-) more authority

-) a higher profile

) more responsibilities

) more work

* The remainder of the Community GPD is devoted mainly to

) financing investments of the population

-) financing investments of general government

-) the collective consumption of general government

) the collective consumption of the population

*The minor part of the Community GPDis devoted to

-) leisure

) international affairs

) education

-) food

*Even after the legislative program is completed

-) There is plenty to be done

) There is nothing to be done

-) There is a lot to be done

) Everything is already done

* The single market, like any other, needs to balance the interests of ……….. if it is to operate efficiently.

) consumption

-) buyers

-) sellers

) program

* When the single market needs to balance the interests of buyers and sellers if it is to operate efficiently, it means

) the collective consumption of the population

-) fixing additional rules of consumer protection

)- ensuring that existing ones are applied correctly

) financing investments of the population

*A steady increase means

-) a constant increase

) a steady demand

) a constant demand

-) a constant rise

*A gradual swing means

) a constant increase

) to be employed

-) a swing during a long period of time

-) a gradual change in options

*Finance is

) absence of money

-) the management of money by large organizations

-) the money that an organization or person has

-) the money provided by a bank

*To exceed means

-) to be more than a particular number or amount


0) to go beyond what rules or laws say

) to increase

) to leave the labour force

*A service means

-) the help that people who work in a restaurant, shop etc. give you

) the money that an organization or person has

-) a particular type of help provided by a company

) a swing during a long period of time

*Inflation does not mean that

-) all prices are moving to the same extent

) all prices are falling to the same extent

-) all prices are moving in the same direction

) all prices are moving to the same price

*Choose the correct sentence.

-) Some prices may be rising very sharply.

-) Other prices may be rising very little.

-) Some prices may even be falling.

) All prices may be rising very sharply.

*When prices are rising

-) you can buy fewer goods and services

)the purchasing power of money is rising

-) the purchasing power of money is falling

) you can buy more goods and services

*Different countries have experienced

-) different rates of inflation

-) various degrees of inflation

) one and the same degree of inflation

) no inflation

*Hyperinflation presents

-) extremely high rates of inflation

-) very high rate of inflation

) low rates of inflation

) average rates of inflation

*If prices are held down below the equilibrium level

)shortages fall

-) shortages arise

-) it leads to rationing

) it leads to employment

*The problem of inflation is that

-) prices are held down while costs are still rising

-) many firms could find themselves making losses

) prices are still rising while costs are held down

) many firms could find themselves making benefits


*Prices are coming down partly thanks to the beneficial of

-) new technology

) average inflation

) hyperinflation

-) deregulation

*Eastern Europe was desperately trying to

-) cast off the shackles of socialist controls

-) convert to market based economists

) pretend the shackles of socialist controls

) convert to bad economists

*The lending excess of the 1980s left a legacy of

)the shackles of socialist controls

) market based economists

-) crippled financial institutions

-) heavy indebtedness

*Because of inflation

-) more than a few toppled into bankruptcy

) some developed their banks

)some became solvent

-) some became insolvent

*Interest rates were high in part in the USA because of

-) budget deficits

-) the prospect they might continue indefinitely

) the prospect they didn’t continue indefinitely

) budget benefits

*………. struggled to remain afloat by getting injections of capital or merging.

-) banks

-) savings and loans

-) some insurance companies

) budget benefits

*Banks, savings and loans,some insurance companies struggled to remain afloat by

) heavy indebtedness

-) merging

-) getting injectionsof capital

) budget benefits

*Importing goods is

-) the oldest form of international trade

-) an important part of present-day trade

) producing goods and services

) the youngest form of international trade

*Britain can obtain products by means of international trade, such as

) books

-) certain types of minerals

-) tropical fruit

-) natural rubber

*More specialization means


-) larger output

) higher costs

-) lower costs

) smaller output

*Britain imports

-) cars and motor cycles

-) footwear

-) electrical appliances

) clothes

*Goods are products

)on a lower scale

)at a larger costs

-) on a larger scale

-) at a lower costs

*International trade enables countries to have more goods than they could

-) obtain by trying to be self-sufficient

-) produce only for themselves

) produce for other countries

) import

*Even if one country is more efficient than the other in producing both video records and cameras, it may still benefit both countries to

-) specialize

-) trade

) sell

) throw away

*……… restrict the supply of goods available to home consumers.

) money

-) tariffs

-) quotas

-) exchange controls

*When a country restricts its import

-) it is restricting other countries export

-) these countries may well retaliate by restricting their own import

) tariffs protect home producers

) imports can be purchased

*Which is correct?

-) Import can only be purchased with foreign currencies.

-) The government can limit imports.

-) The amount of foreign currency available can be restricted.

) Export can only be purchased with foreign currencies

*Economic protectionism is

) using drugs

) using affairs

-) using tariffs

-) using quotas

*Smoot-Hawley

-) sharply increased U.S. tariffs

)- quickly met with foreign relations

)sharply lowered U.S. tariffs

) didn’t met with foreign relations

*Statesman Alexander Hamilton

) sharply increased U.S. tariffs

-) wanted to encourage American industrial development

-) advocated a protective tariff

) didn’t met with foreign relations

*Many U.S. leaders argued that …… would depend on economic recovery.

-) the domestic stability

-) continuing loyalty of U.S. allies

) are using tariffs

) sharply lowered U.S. tariffs

* Nations cannot produce on a level to sustain …….. unless they have reasonable opportunities to trade with one another.

-) their people

-) their well-being

) their abilities

) their knowledge