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Introduction to Macro Economics Important Questions

12th Standard EM

    Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 50
    5 x 1 = 5
  1. Indicate the contribution of J M Keynes to economics

    (a)

    Wealth of Nations

    (b)

    General Theory

    (c)

    Capital

    (d)

    Public Finance

  2. A steady increase in general price level is termed as_____________.

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  3. The country following Capitalism is ________________

    (a)

    Russia

    (b)

    America

    (c)

    India

    (d)

    China

  4. Identify The Father of Socialism

    (a)

    J M Keynes

    (b)

    Karl Marx

    (c)

    Adam Smith

    (d)

    Samuelson

  5. Micro means __________.

    (a)

    Large

    (b)

    Big

    (c)

    Small

    (d)

    Both 'a' and 'b'

  6. 5 x 2 = 10
  7. Define the term ‘Inflation

  8. What are the major types of economic systems

  9. Define Globalism

  10. Mention the any three Socialist Learning economies.

  11. Mention the any three Capitalist Learning economies

  12. 5 x 3 = 15
  13. Outline the major merits of capitalism.

  14. Indicate the demerits of socialism

  15. Explain any three features of Capitalistic Economy.

  16. Describe the three models of circular flow of income.

  17. What are limitations from which Macro economics suffer?

  18. 4 x 5 = 20
  19. Illustrate the functioning of an economy based on its activities

  20. Compare the features of capitalism and socialism

  21. Explain the Demerits of capitalism.

  22. Explain the merits of Mixed Economy.

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