What is the main cause offrictional unemployment?A. People choosing not toworkB .People having the wrongskillsC .People changing jobsD. People employed atcertain times of the yearDraw a diagram toshow economiccycle indicatingboom ,recovery,recessionand downturn.What ismeant bythe termtrade-off?What ismeant by theterm infantindustries?Which one of the followingterms may refer tosomeone having a lowerstandardof living in comparison tothe average person insociety?A. Absolute povertyB Income distributionC. Relative povertyD .Poverty trapConsumer Price Index(CPI) was 130.4 in 2017and it increased to 140.3 in2018.Calculate, to two decimalplaces, the rate of inflationin 2018. You are advised toshowyour working.In August 2019 Inter Milan, anItalian football club, paid£73m to Manchester Unitedfor the transfer of footballerRomelu Lukaku. Theexchange rate was £1 =€1.08.Calculate the price Inter Milanpaid in euros (€) for thetransfer of RomeluLukakuWhat term refers to afirm or country sellingan export below thecost ofproduction?A. QuotasB .DumpingC. DeregulationD. TariffsExplain theimpact of anincrease intaxation onconsumersDraw a diagram toshow the impact onthe electric carmarket if a subsidygiven to electric carindustry.Draw a diagram toshow impact on marketfor Euros againstpounds when people inEurozone speculatepounds might be moreexpensive in the future.Explain theimpact of anincrease ingovernmentexpenditure onthe economy.Vietnam's GDP per capitawas $2590 in 2018 and$2715 in 2019.Calculate, totwo decimal places, thepercentage increase inGDP per capitabetween 2018 and 2019.You are advised to showyour working.The government revenuefor Estonia in 2018 was€m8119601 andgovernment expenditurewas €m8197243.Calculate in €m the fiscalsurplus/deficit for Estonia in2018. You are advised toshow your working.Draw a diagramto show adecrease inquota for acountry.Member countries of atrading bloc agree toA .trade together with lowor no barriersB. have the same rate ofincome taxC. only trade with memberswithin the blocD.have common bordersbetween membersWhat ismeant bythe termexports?The InternationalLabour Organisation(ILO) measuresA .inflationB .unemploymentC .economic growthD .governmentspendingExplain theimpact of a cutin interest rateon currentaccountbalance.What ismeant by theterm fiscalpolicy?Explain howthe subsidiescan be usedto protect theenvironment.Draw a diagram toshow impact on marketfor Euros againstpounds when interestrate in Eurozonecountries is reducedand becomes lowerthan UK.Calculate, to two decimalplaces, the rate ofunemployment for acountry which hasa labour force of 72 millionof which 8 million areunemployed. You areadvised to showyour working.Explain thetrade-offbetween lowunemploymentand lowinflation.What ismeant by theterm supply-side policy?What is the main cause offrictional unemployment?A. People choosing not toworkB .People having the wrongskillsC .People changing jobsD. People employed atcertain times of the yearDraw a diagram toshow economiccycle indicatingboom ,recovery,recessionand downturn.What ismeant bythe termtrade-off?What ismeant by theterm infantindustries?Which one of the followingterms may refer tosomeone having a lowerstandardof living in comparison tothe average person insociety?A. Absolute povertyB Income distributionC. Relative povertyD .Poverty trapConsumer Price Index(CPI) was 130.4 in 2017and it increased to 140.3 in2018.Calculate, to two decimalplaces, the rate of inflationin 2018. You are advised toshowyour working.In August 2019 Inter Milan, anItalian football club, paid£73m to Manchester Unitedfor the transfer of footballerRomelu Lukaku. Theexchange rate was £1 =€1.08.Calculate the price Inter Milanpaid in euros (€) for thetransfer of RomeluLukakuWhat term refers to afirm or country sellingan export below thecost ofproduction?A. QuotasB .DumpingC. DeregulationD. TariffsExplain theimpact of anincrease intaxation onconsumersDraw a diagram toshow the impact onthe electric carmarket if a subsidygiven to electric carindustry.Draw a diagram toshow impact on marketfor Euros againstpounds when people inEurozone speculatepounds might be moreexpensive in the future.Explain theimpact of anincrease ingovernmentexpenditure onthe economy.Vietnam's GDP per capitawas $2590 in 2018 and$2715 in 2019.Calculate, totwo decimal places, thepercentage increase inGDP per capitabetween 2018 and 2019.You are advised to showyour working.The government revenuefor Estonia in 2018 was€m8119601 andgovernment expenditurewas €m8197243.Calculate in €m the fiscalsurplus/deficit for Estonia in2018. You are advised toshow your working.Draw a diagramto show adecrease inquota for acountry.Member countries of atrading bloc agree toA .trade together with lowor no barriersB. have the same rate ofincome taxC. only trade with memberswithin the blocD.have common bordersbetween membersWhat ismeant bythe termexports?The InternationalLabour Organisation(ILO) measuresA .inflationB .unemploymentC .economic growthD .governmentspendingExplain theimpact of a cutin interest rateon currentaccountbalance.What ismeant by theterm fiscalpolicy?Explain howthe subsidiescan be usedto protect theenvironment.Draw a diagram toshow impact on marketfor Euros againstpounds when interestrate in Eurozonecountries is reducedand becomes lowerthan UK.Calculate, to two decimalplaces, the rate ofunemployment for acountry which hasa labour force of 72 millionof which 8 million areunemployed. You areadvised to showyour working.Explain thetrade-offbetween lowunemploymentand lowinflation.What ismeant by theterm supply-side policy?

Macroeconomic Revision Bingo - Call List

(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. What is the main cause of frictional unemployment? A. People choosing not to work B .People having the wrong skills C .People changing jobs D. People employed at certain times of the year
  2. Draw a diagram to show economic cycle indicating boom , recovery,recession and downturn.
  3. What is meant by the term trade-off?
  4. What is meant by the term infant industries?
  5. Which one of the following terms may refer to someone having a lower standard of living in comparison to the average person in society? A. Absolute poverty B Income distribution C. Relative poverty D .Poverty trap
  6. Consumer Price Index (CPI) was 130.4 in 2017 and it increased to 140.3 in 2018. Calculate, to two decimal places, the rate of inflation in 2018. You are advised to show your working.
  7. In August 2019 Inter Milan, an Italian football club, paid £73m to Manchester United for the transfer of footballer Romelu Lukaku. The exchange rate was £1 = €1.08. Calculate the price Inter Milan paid in euros (€) for the transfer of Romelu Lukaku
  8. What term refers to a firm or country selling an export below the cost of production? A. Quotas B .Dumping C. Deregulation D. Tariffs
  9. Explain the impact of an increase in taxation on consumers
  10. Draw a diagram to show the impact on the electric car market if a subsidy given to electric car industry.
  11. Draw a diagram to show impact on market for Euros against pounds when people in Eurozone speculate pounds might be more expensive in the future.
  12. Explain the impact of an increase in government expenditure on the economy.
  13. Vietnam's GDP per capita was $2590 in 2018 and $2715 in 2019.Calculate, to two decimal places, the percentage increase in GDP per capita between 2018 and 2019. You are advised to show your working.
  14. The government revenue for Estonia in 2018 was €m8119601 and government expenditure was €m8197243. Calculate in €m the fiscal surplus/deficit for Estonia in 2018. You are advised to show your working.
  15. Draw a diagram to show a decrease in quota for a country.
  16. Member countries of a trading bloc agree to A .trade together with low or no barriers B. have the same rate of income tax C. only trade with members within the bloc D.have common borders between members
  17. What is meant by the term exports?
  18. The International Labour Organisation (ILO) measures A .inflation B .unemployment C .economic growth D .government spending
  19. Explain the impact of a cut in interest rate on current account balance.
  20. What is meant by the term fiscal policy?
  21. Explain how the subsidies can be used to protect the environment.
  22. Draw a diagram to show impact on market for Euros against pounds when interest rate in Eurozone countries is reduced and becomes lower than UK.
  23. Calculate, to two decimal places, the rate of unemployment for a country which has a labour force of 72 million of which 8 million are unemployed. You are advised to show your working.
  24. Explain the trade-off between low unemployment and low inflation.
  25. What is meant by the term supply-side policy?