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Theories of Employment and Income Model Question Paper 1

12th Standard EM

    Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 50
    5 x 1 = 5
  1. According to Keynes, which type of unemployment prevails in capitalist economy ?

    (a)

    Full employment

    (b)

    Voluntary unemployment

    (c)

    Involuntary unemployment

    (d)

    Under employment

  2. Keynes attributes unemployment to__________

    (a)

    A lack of effective supply

    (b)

    A lock of effective demand

    (c)

    A lack of both

    (d)

    None of the above

  3. ________ theory is a turning point in the development of modern economic theory.

    (a)

    Keynes’

    (b)

    Say’s

    (c)

    Classical

    (d)

    Employmen

  4. Rate of interest is a stock

    (a)

    Socialism

    (b)

    Keynesianism

    (c)

    Classicism

    (d)

    All the above

  5. 'Demand creates its own supply' - who said this.

    (a)

    Socialism

    (b)

    Keynesianism

    (c)

    Classicism

    (d)

    Both 'b' and 'c'

  6. 5 x 2 = 10
  7. Define full employment.

  8. Give reasons for labour retrenchment at present situation

  9. List out the assumptions of Say’s law.

  10. What are the four components of aggregate demand?

  11. What is Cyclical Unemployment?

  12. 5 x 3 = 15
  13. Write short note on the implications of Say’s law.

  14. Explain about aggregate supply with the help of diagram.

  15. Write a short note on effective demand?

  16. Write the criticism of Say's Law.

  17. What are the economic costs of unemployment?

  18. 4 x 5 = 20
  19. Critically explain Say’s law of market

  20. Narrate the equilibrium between ADF and ASF with diagram

  21. Draw the diagram ADF.

  22. Draw the diagram for Aggregate supply curves diagram.

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