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COMM1150-Global Business Environments - T2/2025

COMM1150-Global Business Environments - T2/2025

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How is income inequality typically measured?

By analysing the level of economic growth in a particular region

By assessing the percentage of national debt in relation to GDP

By examining the Gini coefficient or other inequality indices

By comparing the average income of different countries

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Why can high government debt be a problem in the long run?

It reduces inflation

It allows the government to avoid taxation

It can lead to higher interest rates, crowding out private investment

It increases long-term growth

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What does nominal GDP measure?

The purchasing power of a country's currency

The total economic output of a country adjusted for inflation

The total economic output of a country in current prices

The total value of exports and imports of a country

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How can income inequality impact consumer behaviour?

It can result in decreased consumer spending and economic downturn

It has no significant impact on consumer behaviour

It may lead to increased demand for affordable and value-oriented products

It influences consumer preferences for luxury and high-end products

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How does the central bank use open market operations to influence the economy?

By adjusting government spending

By buying or selling government securities in the open market to affect the money supply

By providing subsidized loans to commercial banks

By directly controlling the stock market

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How does human capital contribute to economic growth?

By increasing government spending on infrastructure

By improving worker productivity through education and training

By reducing the cost of physical capital

By increasing the labor force participation rate

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According to the Solow-Swan model, which of the following is NOT an input in the aggregate production function?

Human capital (H)

Physical capital (K)

Government spending (G)

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What does the Phillips Curve illustrate?

The relationship between GDP and government spending

How money supply impacts interest rates

The long-run growth rate of an economy

The trade-off between inflation and unemployment in the short run

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What is the primary determinant of the general price level in the economy, according to the quantity theory of money?

Aggregate demand

Aggregate supply

Consumer spending

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Why is understanding income inequality important for a business's long-term sustainability?

It fosters a positive brand image and reputation among socially conscious consumers

It enables businesses to maximize their market share and monopolize the industry

It helps businesses anticipate and mitigate potential social and political risks

It has no significant impact on a business's long-term sustainability

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