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12th Standard Economics English Medium Free Online Test 1 Mark Questions 2020

12th Standard

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Economics

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. _________ sector sells the entire output to house holds.

    (a)

    Firm

    (b)

    House hold

    (c)

    Government

    (d)

    Foreign trade

  2. Pick basic composition of three sector of model of economy

    (a)

    Y = C + I + G + (X – M)

    (b)

    Y = C + I + G

    (c)

    Y = C + S

    (d)

    Y = C + I

  3. The core of the classical theory of employment is____________

    (a)

    Law of Diminishing Return

    (b)

    Law of Demand

    (c)

    Law of Markets

    (d)

    Law of Consumption

  4. 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

  5. The Functions of commercial banks are broadly classified into

    (a)

    Primary Functions

    (b)

    Secondary functions

    (c)

    Other functions

    (d)

    a, b, and c

  6. Exchange rates are determined in

    (a)

    money market

    (b)

    foreign exchange market

    (c)

    stock market

    (d)

    capital market

  7. The first ministerial meeting ofWTO was held at

    (a)

    Singapore

    (b)

    Geneva

    (c)

    Seattle

    (d)

    Doha

  8. The difference between total expenditure and total receipts including loans and other liabilities is called

    (a)

    Fiscal deficit

    (b)

    Budget deficit

    (c)

    Primary deficit

    (d)

    Revenue deficit

  9. Which is not the feature of economic growth?

    (a)

    Concerned with developed nations

    (b)

    Gradual change

    (c)

    Concerned with quantitative aspect

    (d)

    Wider concept

  10. If Y = 2 - O.2X, then the value of Y intercept is equal to

    (a)

    -0.2

    (b)

    2

    (c)

    0.2X

    (d)

    All of the above

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