Kumpulan Soal UTM UT Bahasa Inggris Niaga ADBI4201

GDP stands for:

a) Gross Domestic Product

b) Government Development Plan

c) General Distribution Process

d) Global Economic Dynamics

Jawaban: a) Gross Domestic Product

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

Jawaban: b) Increase in the general price level

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

Jawaban: b) A market structure with a single seller

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

Jawaban: b) The relationship between the quantity of a product and its price

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

Jawaban: c) A situation where the quantity demanded equals the quantity supplied

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

Jawaban: c) The value of the best alternative forgone when making a choice

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

Jawaban: a) The excess of government spending over government revenue

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

Jawaban: b) The rate at which a country’s currency can be exchanged for another
currency

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

Jawaban: b) A market structure with a few sellers

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

Jawaban: c) The exchange of goods and services without using money

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

Jawaban: a) Money used for investment or production

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

Jawaban: a) A graphical representation of the relationship between price and quantity

demanded

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

Jawaban: b) The responsiveness of quantity demanded or supplied to a change in price

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

Jawaban: a) A decrease in the overall level of prices

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

Jawaban: a) The ability of a country to produce a good at a lower opportunity cost than
another country

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

Jawaban: a) A decrease in the value of a country’s currency relative to other currencies

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

Jawaban: c) The comparison of costs and benefits to determine the best course of
action

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

Jawaban: a) Money borrowed to finance a purchase

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

Jawaban: c) The responsiveness of quantity demanded to a change in the price of the

good itself

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

Jawaban: c) The satisfaction or utility gained by consumers from consuming a good or

service

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

Jawaban: b) The rate at which a country’s currency can be exchanged for another
currency

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

Jawaban: c) The increase in the total value of goods and services produced in an
economy

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

Jawaban: b) The government’s decisions regarding taxation and spending

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

Jawaban: c) A situation where the quantity demanded equals the quantity supplied

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

Jawaban: a) The costs or benefits that are not reflected in the market price of a good

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

Jawaban: a) A small change in price leads to a large change in quantity demanded

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

Jawaban: b) The inputs used in the production process, such as land, labor, and capital

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

Jawaban: b) The unrestricted movement of goods and services across international

borders

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

Jawaban: b) The market where stocks and bonds are traded

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

Jawaban: d) The cost that remains constant regardless of the quantity of output
produced

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

Jawaban: a) Gross Domestic Product

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

Jawaban: a) The increase in the overall level of prices

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

Jawaban: b) A market structure with a single seller and many buyers

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

Jawaban: b) The cost of producing a good in terms of the next best alternative forgone

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

Jawaban: c) A reward or penalty that motivates individuals or firms to take certain

actions

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

Jawaban: d) The cost of borrowing money, expressed as a percentage

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

Jawaban: b) The control of the money supply and interest rates by the central bank

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

Jawaban: d) A market structure with a few large sellers and many buyers

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

Jawaban: a) The ability of an economic system to generate positive incentives for

individuals to act in their own self-interest