A steady increase in general price level is termed as_____________.

(a)

wholesale price index

(b)

Business Cycle

(c)

Inflation

(d)

National Income

An economic system where the economic activities of a nation are done both by the private and public together is termed as__________

(a)

Capitalistic Economy

(b)

Socialistic Economy

(c)

Globalisic Economy

(d)

Mixed Economy

________ is a combination of both capitalism and socialism.

(a)

Socialistic economy

(b)

Capitalistic economy

(c)

Traditional economy

(d)

Mixed economy

Find the odd one out

(a)

C + I

(b)

C + I + G + (X – M)

(c)

C + I + G

(d)

(X – M)

Per capita income is obtained by dividing the National income by__________

(a)

Production

(b)

Population of a country

(c)

Expenditure

(d)

GNP

NNP at factor cost = NNP at Market Price - ________ + Subsidies.

(a)

Direct taxes

(b)

Canons of taxes

(c)

Indirect taxes

(d)

None of these

Secondary sector is __________

(a)

Industry

(b)

Trade

(c)

Agriculture

(d)

Manufacture

Disposable Income is also known as _________?

(a)

Disposable private income

(b)

Disposable personal income

(c)

Deductible personal income

(d)

None of the above

Assertion: National Income is considered as an indicator of the economic wellbeing of a country.
Reason: The economic progress of countries is measured in terms of their GDP per capita and their annual growth rate.

(a)

Both (A) and (R) are true and (R) is the correct explanation of (A).

(b)

Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(c)

(A) is true, but (R) is false

(d)

(A) is false, but (R) is true

That part of personal income which is actually available to households for consumption and saving is called________

(a)

National Disposable Income

(b)

Personal Disposable Income

(c)

Personal Income

(d)

None

_________ Flexibility brings equality between saving and investment

(a)

Demand

(b)

Supply

(c)

Capital

(d)

Interest

Total production equals to __________

(a)

total income

(b)

gross income

(c)

net income

(d)

total sales

Which of the following economies have the unemployment is purely temporary or cyclical or frictional?

(a)

Developed Economies

(b)

Underdeveloped economies

(c)

Developing economics

(d)

None of the above

The relationship between total spending on consumption and the total income is the_________

(a)

Consumption function

(b)

Savings function

(c)

Investment function

(d)

aggregate demand function

The term consumption function explains the relationship between ___________ and ___________

(a)

Labour and Consumer

(b)

Income and Consumption

(c)

Consumer and Consumption

(d)

Organisation and Consumption

MEC is inversely related to:

(a)

Prospective yield

(b)

Supply price

(c)

Investment

(d)

Rate of interest

___________inflation is in no way dangerous to the economy

(a)

walking

(b)

running

(c)

creeping

(d)

galloping

"The purchasing power of money" was a book published by________in 1911

(a)

J.M. Keynes

(b)

Irving Fisher

(c)

Adam smith

(d)

Ricardo

During _______ the level of economicactivity becomes extremely high.

(a)

Boom

(b)

Recession

(c)

Depression

(d)

Recovery

Moral suasion refers.

(a)

Optimization

(b)

Maximization

(c)

Persuasion

(d)

Minimization

Classify the economies based on status of development.

What is Technical Unemployment?

Define marginal propensity to consume (MPC).

Compare and contrast fiat money and commodity money.

What is meant by Regulation of consumer's credit?

Define Terms of Trade.

What is the view of Mercantilism about trade?

Enumerate the features of mixed economy.

Indicate the demerits of Mixed Economy.

Give short note on Expenditure method.

Comment - “Ex ante and Ex post in Says’ Law".

Specify the functions of IFCI.

Mention the difference between FDI and FPI.

Write briefly about “Structural Adjustment Facility”

Discuss the importance of social accounting in economic analysis.

Explain the basic concepts of national income.

Explain the operation of the Accelerator.

Describe the phases of Trade cycle.

What are the objectives of ARDC? Explain.

Explain briefly the Comparative Cost Theory.

Write the functions of BRICS.