New ! Economics MCQ Practise Tests

All Chapter 2 Marks

12th Standard

    Reg.No. :


Time : 01:00:00 Hrs
Total Marks : 96
    Answer The Following Question:
    48 x 2 = 96
  1. What is meant by an ‘Economy’?

  2. Define ‘Economic Model"

  3. What do you mean by Socialism?

  4. What is Globalisation?

  5. Define National Income.

  6. Define GDP deflator

  7. Write the formula for calculating Market Price and factor cost

  8. If NNP is $7 trillion, net investment is $500 billion and gross investment is $1 trillion determine the level of GNP.

  9. Define full employment.

  10. What is the main feature of rural unemployment ?

  11. What is Cyclical Unemployment?

  12. Write a note on “wage-price rigidity” Keynes.

  13. Define average propensity to consume (APC).

  14. Define Marginal Propensity to Save (MPS).

  15. What is Definition of “The accelerator coefficient”?

  16. Write the definition of “Leverage Effect”.

  17. Define Money

  18. What is Stagflation?

  19. Mention the components of Money Supply in India.

  20. Answer the questions below using the following information:
    All figures are in billions of dollars.

    Currency held outside banks Rs.800
    Demand Deposits 1000
    Traveler's Checks 100
    Other checkable deposits 200
    Savings accounts 300
    Money market accounts 100
    Other near monies 200

    a. What is the value of M1?
    b. What is the value of M2?

  21. Define Central bank.

  22. What is rationing of credit?

  23. What is a credit card?

  24. Write a short meaning of Money market.

  25. Define International trade.

  26. Define Terms of Trade.

  27. How Modern theory of International Trade attributes international differences in comparative costs to?

  28. What is Foreign Portfolio Investment (FPI)

  29. What is Free trade area?

  30. When and where was SAARC Secretariat established?

  31. Write a short note on IBRD.

  32. What are the achievements of IMF/?

  33. Define public finance.

  34. What is public revenue?

  35. What are the Canons of Taxation?

  36. Define automatic stabilizers.

  37. What do you mean by ecosystem?

  38. What are the remedial measures to control noise pollution?

  39. Define Externalities.

  40. What are the major Causes of Air Pollution?

  41. Distinguish between economic growth and development

  42. What are the social indicators of economic development?

  43. Write any three non-economic factors

  44. What is human capital?

  45. What are the kinds of Statistics?

  46. Define Regression.

  47. Write the definition of economics in the words of Ragnar Frisch.

  48. Write an equation on :
    i) Statistics Regression,
    ii) Econometrics Regression


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