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    Basics of Economics

    Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

    1

    If both demand and supply increase, the equilibrium price will:

    2

    If a $50 b tax cut results in a $200 b increase in GDP, the expenditures multiplier's value is:

    3

    If demand is price-elastic, the firm can increase sales revenues by:

    4

    If economies of scale are present the average cost as output expands will:

    5

    To increase the quantity of money in a system, the central bank should: