Lesson 4.2.1.2

4.2.1.2 Macroeconomic indicators Quiz: AQA Economics, Unit 2

20 questions

Written by Revision Ninja · Last reviewed 11 October 2026

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Lesson 4.2.1.2, Macroeconomic indicators: 20 multiple choice questions for the AQA Economics (7136), Unit 2: The national and international economy, written with Revision Ninja.

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The 20 questions

  1. Which macroeconomic indicator measures total real national output divided by the population size?

    • Gross National Product
    • Consumer Prices Index
    • Nominal GDP
    • Real GDP per capita

  2. Why is real GDP preferred over nominal GDP when measuring economic growth over time?

    • Calculates tax revenues
    • Adjusts for inflation
    • Includes import values
    • Measures population changes

  3. What does the Consumer Prices Index (CPI) track over time?

    • Inflation rate
    • Exchange rate
    • Interest rate
    • Unemployment rate

  4. How is labour productivity in an economy commonly measured?

    • Capital per worker
    • Output per firm
    • Total real output
    • Output per worker

  5. Which measure of unemployment counts individuals receiving job-related state benefits in the UK?

    • Claimant Count
    • Participation Rate
    • Active Population Index
    • Labour Force Survey

  6. Which item is included in the Retail Prices Index but excluded from the Consumer Prices Index?

    • Public transport
    • Motor fuel
    • Mortgage interest payments
    • Supermarket food

  7. Which measure is recorded on the current account of the balance of payments?

    • Portfolio investment
    • Trade in goods
    • Foreign direct investment
    • Capital transfers

  8. If nominal GDP rises from £1,600bn to £1,760bn and prices rise from 100 to 110, real GDP is:

    • £1,600 million
    • £1,600 billion
    • £1,936 billion
    • £1,760 billion

  9. Which index is used to adjust nominal wages to calculate real purchasing power?

    • FTSE 100 Index
    • Consumer Prices Index
    • House Price Index
    • Producer Prices Index

  10. A country running a current account deficit on the balance of payments is a net:

    • Exporter of capital
    • Saver abroad
    • Borrower from abroad
    • Lender to abroad

  11. Which factor is omitted from real GDP calculations when measuring economic well-being?

    • Government spending
    • Capital investment
    • Unpaid housework
    • Consumer expenditure

  12. Which indicator best measures the relative labour productivity of workers between two countries?

    • Output per worker
    • GDP per capita
    • Total national output
    • Real wage rate

  13. Why is the weighting of goods in the CPI basket updated every year?

    • Equalise regional prices
    • Reflect spending habits
    • Increase tax revenues
    • Reduce measured inflation

  14. Which data point is a microeconomic variable rather than a macroeconomic indicator?

    • Real GDP growth
    • Inflation rate
    • Price of coffee
    • Unemployment rate

  15. Which official index is targeted by the Bank of England to measure household inflation?

    • Producer Prices Index
    • FTSE 100 Index
    • Consumer Prices Index
    • House Price Index

  16. Why might high real GDP per capita fail to reflect higher living standards for most citizens?

    • Rising export volumes
    • High price inflation
    • Rapid population growth
    • High income inequality

  17. Why is the Retail Prices Index usually higher than the Consumer Prices Index?

    • Excludes food prices
    • Uses geometric mean
    • Includes housing costs
    • Ignores energy bills

  18. Why is nominal GDP an unreliable measure when comparing economic output over time?

    • Ignores population size
    • Distorted by inflation
    • Omits government spending
    • Excludes net exports

  19. Which group of people is excluded from official UK unemployment statistics?

    • Discouraged workers
    • Self-employed workers
    • Part-time workers
    • Benefit claimants

  20. When is a country's current account on the balance of payments in balance?

    • Exports equal zero
    • Taxes equal spending
    • Imports equal zero
    • Inflows equal outflows

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