Unit 3: Macroeconomics
Topic 3.1: Measuring Economic Activity and Illustrating Its Variations Questions
Practice 20 exam-style questions for IB Economics Topic 3.1. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
44 marks
Describe the four phases of the business cycle.
Markscheme and model answer locked
Unlock Question54 marks
Distinguish between nominal GDP and real GDP.
Markscheme and model answer locked
Unlock Question71 mark
Real GDP differs from nominal GDP because real GDP:
Markscheme and model answer locked
Unlock Question91 mark
During the expansion phase of the business cycle, which of the following is most likely?
Markscheme and model answer locked
Unlock Question111 mark
During the expansion phase of the business cycle, which of the following is most likely?
Markscheme and model answer locked
Unlock Question121 mark
Real GDP differs from nominal GDP because real GDP:
Markscheme and model answer locked
Unlock Question134 marks
Describe the four phases of the business cycle.
Markscheme and model answer locked
Unlock Question164 marks
Distinguish between nominal GDP and real GDP.
Markscheme and model answer locked
Unlock Question171 mark
If nominal GDP increases by 8% and the inflation rate is 3%, real GDP has increased by approximately:
Markscheme and model answer locked
Unlock Question184 marks
Explain two factors that could cause an economy to move from expansion into contraction.
Markscheme and model answer locked
Unlock Question191 mark
Which of the following would NOT be included in the calculation of a country's GDP?
Markscheme and model answer locked
Unlock QuestionReady to practice Topic 3.1?
Get instant AI feedback on your answers, view detailed markschemes, and track your progress across all IB Economics topics.
Start Practising Now