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

12th Standard

    Reg.No. :
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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. A steady increase in general price level is termed as_____________.

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  2. Income method is measured by summing up of all forms of__________

    (a)

    Revenue

    (b)

    Taxes

    (c)

    expenditure

    (d)

    Income

  3. Disposable income = ___________.

    (a)

    GDP = \(\frac{Normal\ GDP}{Real\ GDP}\times100\)

    (b)

    GNP - Depreciation allowance

    (c)

    GDP - Depreciation

    (d)

    Gross National Product

  4. Keynes theory pursues to replace laissez faire by ___________

    (a)

    No government intervention

    (b)

    Maximum intervention

    (c)

    State intervention in certain situation

    (d)

    Private sector intervention

  5. The multiplier tells us how much __________ changes after a shift in _____

    (a)

    Consumption , income

    (b)

    investment, output

    (c)

    savings, investment

    (d)

    output, aggregate demand

  6. During depression the level of economic activity becomes extremely

    (a)

    high

    (b)

    bad

    (c)

    low

    (d)

    good

  7. International trade differs from domestic trade because of

    (a)

    Trade restrictions

    (b)

    Immobility of factors

    (c)

    Different government policies

    (d)

    All the above

  8. Which of the following countries is not a member of SAARC?

    (a)

    Sri Lanka

    (b)

    Japan

    (c)

    Bangladesh

    (d)

    Afghanistan

  9. The difference between revenue expenditure and revenue receipts is

    (a)

    Revenue deficit

    (b)

    Fiscal deficit

    (c)

    Budget deficit

    (d)

    Primary deficit

  10. The term Uiin regression equation is

    (a)

    Residuals

    (b)

    Standard error

    (c)

    Stochastic error term

    (d)

    None

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