KISI KISI ADBI4201/BAHASA INGGRIS NIAGA UNIVERSITAS TERBUKA

1. GDP stands for:

a) Gross Domestic Product
b) Government Development Plan
c) General Distribution Process
d) Global Economic Dynamics
2. Inflation refers to:
a) Decrease in the general price level
b) Increase in the general price level
c) Stable prices over time
d) Fluctuating exchange rates
3. What does the term "monopoly" mean?
a) A market structure with many buyers and sellers
b) A market structure with a single seller
c) A market with no government intervention
d) A market with perfect competition
4. What is the meaning of the term "supply and demand"?
a) The amount of goods and services produced by a country
b) The relationship between the quantity of a product and its price
c) The distribution of income in a society
d) The government's control over the economy
5. What is the definition of "market equilibrium"?
a) A situation where the supply exceeds demand
b) A situation where the demand exceeds supply
c) A situation where the quantity demanded equals the quantity supplied
d) A situation where the market is stagnant
6. What does the term "opportunity cost" mean?
a) The cost of producing one additional unit of a good
b) The total cost of production
c) The value of the best alternative forgone when making a choice
d) The cost of borrowing money from a bank
7. What is the meaning of the term "deficit" in economics?
a) The excess of government spending over government revenue
b) The excess of government revenue over government spending
c) The total amount of money in circulation
d) The balance between imports and exports
8. What is the definition of "exchange rate"?
a) The rate at which goods and services are exchanged in the market
b) The rate at which a country's currency can be exchanged for another currency
c) The rate at which stocks are traded on the stock exchange
d) The rate at which interest is calculated on a loan
9. What does the term "oligopoly" mean?
a) A market structure with a large number of sellers
b) A market structure with a few sellers
c) A market structure with no competition
d) A market structure with perfect information
10. What is the meaning of the term "barter"?
a) A system of government-controlled trade
b) The exchange of goods and services for money
c) The exchange of goods and services without using money
d) The exchange of goods and services between countries
11. The term "capital" in economics refers to:
a) Money used for investment or production
b) Total assets owned by a company
c) A city that serves as a center of economic activity
d) The physical buildings and infrastructure in an economy
12. What is the meaning of the term "demand curve"?
a) A graphical representation of the relationship between price and quantity
demanded
b) The total amount of goods and services demanded in an economy
c) The change in quantity demanded due to a change in price
d) The demand for a specific product in the market
13. What does the term "elasticity" refer to in economics?
a) The measure of a country's economic growth rate
b) The responsiveness of quantity demanded or supplied to a change in price
c) The percentage of the population below the poverty line
d) The ability of a firm to produce goods efficiently
14. The term "deflation" means:
a) A decrease in the overall level of prices
b) An increase in the overall level of prices
c) A decrease in the money supply
d) An increase in the unemployment rate
15. What is the definition of "comparative advantage"?
a) The ability of a country to produce a good at a lower opportunity cost than
another country
b) The ability of a country to produce more goods than another country
c) The total value of a country's exports minus imports
d) The rate at which one currency can be exchanged for another
16. The term "depreciation" refers to:
a) A decrease in the value of a country's currency relative to other currencies
b) The wear and tear of physical capital over time
c) A decrease in the overall level of investment in an economy
d) The increase in the value of assets owned by a company
17. What does the term "cost-benefit analysis" mean?
a) The analysis of the costs incurred in producing a good or service
b) The analysis of the benefits received from consuming a good or service
c) The comparison of costs and benefits to determine the best course of action
d) The calculation of the average cost of production
18. The term "credit" refers to:
a) Money borrowed to finance a purchase
b) The amount of money in circulation in an economy
c) The interest rate charged by banks on loans
d) The total value of a country's exports minus imports
19. What is the meaning of the term "demand elasticity"?
a) The responsiveness of quantity demanded to a change in income
b) The responsiveness of quantity demanded to a change in the price of a substitute good
c) The responsiveness of quantity demanded to a change in the price of the good
itself
d) The responsiveness of quantity demanded to changes in government policies
20. The term "consumer surplus" refers to:
a) The difference between the price paid by consumers and the price received by
producers
b) The total amount of money spent by consumers in the economy
c) The satisfaction or utility gained by consumers from consuming a good or service
d) The profit earned by consumers from selling goods or services
21. The term "exchange rate" refers to:
a) The rate at which goods and services are exchanged in the market
b) The rate at which a country's currency can be exchanged for another currency
c) The rate at which stocks are traded on the stock exchange
d) The rate at which interest is calculated on a loan
22. What does the term "economic growth" mean?
a) The increase in population in an economy
b) The increase in the overall level of prices
c) The increase in the total value of goods and services produced in an economy
d) The increase in government spending
23. The term "fiscal policy" refers to:
a) The control of the money supply by the central bank
b) The government's decisions regarding taxation and spending
c) The regulation of financial markets
d) The international trade policies of a country
24. What is the meaning of the term "equilibrium" in economics?
a) A situation where the supply exceeds demand
b) A situation where the demand exceeds supply
c) A situation where the quantity demanded equals the quantity supplied
d) A situation where the market is stagnant
25. What does the term "externalities" refer to?
a) The costs or benefits that are not reflected in the market price of a good
b) The costs or benefits incurred by the government
c) The costs or benefits incurred by individuals in a market
d) The costs or benefits incurred by producers in an industry
26. The term "elastic demand" means:
a) A small change in price leads to a large change in quantity demanded
b) A large change in price leads to a small change in quantity demanded
c) The quantity demanded is not affected by changes in price
d) The quantity demanded is equal to the quantity supplied
27. What is the definition of "factor of production"?
a) The monetary value of all goods and services produced in an economy
b) The inputs used in the production process, such as land, labor, and capital
c) The profit earned by a company
d) The total value of a country's exports minus imports
28. The term "free trade" refers to:
a) The absence of government intervention in the economy
b) The unrestricted movement of goods and services across international borders
c) The regulation of monopolistic practices in the market
d) The control of foreign exchange rates by the central bank
29. What does the term "financial market" mean?
a) The market where goods and services are bought and sold
b) The market where stocks and bonds are traded
c) The market where foreign currencies are exchanged
d) The market where the central bank controls the money supply
30. The term "fixed cost" refers to:
a) The cost that varies with the quantity of output produced
b) The cost of raw materials used in production
c) The cost of labor hired by a company
d) The cost that remains constant regardless of the quantity of output produced
31. The term "GDP" stands for:
a) Gross Domestic Product
b) Government Debt-to-GDP Ratio
c) General Price Deflator
d) Goods and Services Distribution Policy
32. What does the term "inflation" mean?
a) The increase in the overall level of prices
b) The decrease in the overall level of prices
c) The increase in the value of a currency relative to other currencies
d) The decrease in the value of a currency relative to other currencies
33. The term "monopoly" refers to:
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with many sellers and few buyers
34. What is the meaning of the term "opportunity cost"?
a) The cost of producing one more unit of a good
b) The cost of producing a good in terms of the next best alternative forgone
c) The cost of resources used in production
d) The cost of borrowing money from a bank
35. The term "incentive" refers to:
a) A tax imposed on goods and services
b) A subsidy provided by the government
c) A reward or penalty that motivates individuals or firms to take certain actions
d) The total revenue earned by a company
36. What does the term "interest rate" mean?
a) The rate at which the government collects taxes from individuals and businesses
b) The rate at which prices of goods and services change over time
c) The rate at which the central bank lends money to commercial banks
d) The cost of borrowing money, expressed as a percentage
37. The term "monetary policy" refers to:
a) The government's decisions regarding taxation and spending
b) The control of the money supply and interest rates by the central bank
c) The regulation of financial markets and institutions
d) The international trade policies of a country
38. What does the term "oligopoly" mean?
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with a few large sellers and many buyers
39. The term "incentive compatibility" refers to:
a) The ability of an economic system to generate positive incentives for individuals
to act in their own self-interest
b) The ability of an economic system to promote income equality among individuals
c) The ability of an economic system to regulate prices and prevent market failures
d) The ability of an economic system to achieve full employment
40. What does the term "investment" mean in economics?
a) The purchase of stocks and bonds
b) The act of saving money in a bank account
c) The purchase of goods and services for personal consumption
d) The allocation of resources to create future income or profit
41. The term "liquidity" refers to:
a) The ability of a firm to generate profits
b) The ease with which an asset can be converted into cash
c) The cost of borrowing money
d) The rate at which prices of goods and services change over time
42. What does the term "market equilibrium" mean?
a) A situation where the quantity demanded exceeds the quantity supplied
b) A situation where the quantity supplied exceeds the quantity demanded
c) A situation where the price is set by the government
d) A situation where the quantity demanded equals the quantity supplied
43. The term "monetary base" refers to:
a) The total value of goods and services produced in an economy
b) The total value of money held by individuals and businesses
c) The total amount of money in circulation in an economy
d) The total amount of money held by the central bank
44. What is the meaning of the term "natural monopoly"?
a) A monopoly that arises due to economies of scale
b) A monopoly that is controlled by the government
c) A monopoly that is formed through collusion between firms
d) A monopoly that is temporary and can be easily broken
45. The term "oligopsony" refers to:
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with few buyers and many sellers
46. What does the term "nominal GDP" represent?
a) The total value of goods and services produced in an economy, adjusted for inflation
b) The total value of goods and services produced in an economy, not adjusted for
inflation
c) The difference between exports and imports of a country
d) The difference between government revenue and expenditure
47. The term "monetary policy" refers to:
a) The government's decisions regarding taxation and spending
b) The control of the money supply and interest rates by the central bank
c) The regulation of financial markets and institutions
d) The international trade policies of a country
48. What does the term "oligopoly" mean?
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with a few large sellers and many buyers
49. The term "price elasticity of demand" refers to:
a) The responsiveness of quantity demanded to changes in income
b) The responsiveness of quantity demanded to changes in price
c) The responsiveness of quantity supplied to changes in price
d) The responsiveness of quantity supplied to changes in income
50. What does the term "perfect competition" mean?
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with a few large sellers and many buyers
51. What does the term "oligopoly" refer to?
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with a few large sellers and many buyers
52. The term "price elasticity of demand" measures:
a) The responsiveness of quantity demanded to changes in price
b) The responsiveness of quantity supplied to changes in price
c) The responsiveness of quantity demanded to changes in income
d) The responsiveness of quantity supplied to changes in income
53. What is the meaning of the term "opportunity cost"?
a) The cost of producing one more unit of a good
b) The cost of producing a good in terms of the next best alternative forgone
c) The cost of resources used in production
d) The cost of borrowing money from a bank
54. The term "perfect competition" refers to:
a) A market structure with many sellers and buyers
b) A market structure with a single seller and many buyers
c) A market structure with few sellers and many buyers
d) A market structure with a few large sellers and many buyers
55. What does the term "monetary policy" involve?
a) The government's decisions regarding taxation and spending
b) The control of the money supply and interest rates by the central bank
c) The regulation of financial markets and institutions
d) The international trade policies of a country
56. The term "production function" describes:
a) The relationship between inputs and outputs in the production process
b) The cost of producing a unit of output
c) The revenue earned from selling a unit of output
d) The rate at which technology improves over time
57. What is the meaning of the term "quota" in international trade?
a) A tax imposed on imported goods
b) A limit on the quantity of goods that can be imported
c) A subsidy provided to domestic producers
d) An agreement between countries to reduce trade barriers
58. The term "recession" refers to:
a) A period of sustained economic growth and expansion
b) A decline in the overall level of prices
c) A temporary slowdown in economic activity characterized by reduced production
and increased unemployment
d) An increase in the overall level of prices
59. What does the term "rent-seeking" mean in economics?
a) The act of earning income from land or property
b) The act of lobbying for government favors or privileges to increase personal
wealth
c) The act of purchasing goods and services for personal consumption
d) The act of saving money in a bank account
60. The term "supply curve" represents:
a) The relationship between price and quantity demanded of a good or service
b) The relationship between price and quantity supplied of a good or service
c) The relationship between income and consumption
d) The relationship between interest rates and investment