VWO / HAVO Centraal Examen (Netherlands) · Economics

Economics

35 practice questions, each with the answer and an explanation.

Practise Economics now

Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.

All 35 questions

  1. What is meant by opportunity cost?
  2. What happens to the equilibrium price when demand for a good rises and supply stays the same?
  3. Which institution sets the monetary policy for the euro area?
  4. What does GDP measure?
  5. What is inflation?
  6. Which product is a normal good?
  7. Which type of unemployment arises when workers are between jobs and searching for a new one?
  8. Which of these is an example of a fiscal policy measure?
  9. The price of a good rises from €10 to €12 and the quantity demanded falls from to . What is the price elasticity of demand (using the simple percentage method)?
  10. In perfect competition a firm maximises profit by producing the quantity at which condition holds?
  11. Which of these is an example of a negative externality?
  12. Which statement about comparative advantage is correct?
  13. Nominal GDP grows by in a year while the price level rises by . Approximately how much is real GDP growth?
  14. What is the main effect of a binding minimum price (price floor) set above the equilibrium price?
  15. In the Dutch tax system, what is the mortgage interest deduction (hypotheekrenteaftrek)?
  16. In which year did euro banknotes and coins enter circulation in the Netherlands?
  17. A good has a price elasticity of demand of . The price rises by . What is the effect on quantity demanded and on total revenue?
  18. What does a government budget deficit mean?
  19. Which pair of figures are the reference values for euro-area government finances in the Stability and Growth Pact?
  20. Which of these best defines a monopoly?
  21. What is 'Dutch disease'?
  22. Which institution in the Netherlands produces economic forecasts and analyses of government policy?
  23. What is the effect of a tax on a good with a negative externality, set equal to the external cost?
  24. If the central bank raises its policy interest rate, what is the most likely first effect on spending?
  25. Which of these is a public good?
  26. What does the Lorenz curve show?
  27. A firm sells units at a price of €20. Variable cost per unit is €12 and fixed costs are €6000. What is the profit?
  28. A country has a nominal interest rate of and expected inflation of . What is the approximate real interest rate, and what does it show?
  29. Prices of a basket of goods rise from €200 to €210. Wages rise by . What happens to the real purchasing power of wages?
  30. Total demand falls in an economy and unemployment rises. Which combination of policy responses is most consistent with expansionary policy?
  31. A tax of €2 per unit is placed on a good with very inelastic demand and elastic supply. Who bears most of the tax?
  32. The marginal propensity to consume is . By how much does equilibrium income rise in the simple multiplier model after an extra €100 million of investment?
  33. The euro falls in value against the US dollar. Which effect is most likely for the Netherlands?
  34. A monopolist faces demand with marginal cost of €20. What quantity maximises profit?
  35. Which statement best describes the Dutch 'poldermodel'?

Keep practising

More VWO / HAVO Centraal Examen (Netherlands) topics

All VWO / HAVO Centraal Examen (Netherlands) practice →

Ready for the full VWO / HAVO Centraal Examen (Netherlands) test?

Take a mock testVWO / HAVO Centraal Examen (Netherlands) hub