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12th Standard Economics English Medium Free Online Test Book Back 1 Mark Questions with Answer Key

12th Standard EM

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. Who coined the word ‘Macro’?

    (a)

    Adam Smith

    (b)

    J M Keynes

    (c)

    Ragnar Frisch

    (d)

    Karl Marx

  2. Primary sector is ________

    (a)

    Industry

    (b)

    Trade

    (c)

    Agriculture

    (d)

    Construction.

  3. Structural unemployment is a feature in a _____________

    (a)

    Static society

    (b)

    Socialist society

    (c)

    Dynamic society

    (d)

    Mixed economy

  4. When investment is assumed autonomous the slope of the AD schedule is determined by the______

    (a)

    marginal propensity to invest

    (b)

    disposable income

    (c)

    marginal propensity to consume

    (d)

    average propensity to consume

  5. ___________inflation occurs when general prices of commodities increases due to increase in production costs such as wages and raw materials.

    (a)

    Cost-push

    (b)

    demand pull

    (c)

    running

    (d)

    galloping

  6. Bank credit refers to

    (a)

    Bank Loans

    (b)

    Advances

    (c)

    Bank loans and advances

    (d)

    Borrowings

  7. 2016 Demonetization of currency includes denominations of

    (a)

    Rs.500 and Rs.1000

    (b)

    Rs.1000 and Rs2000

    (c)

    Rs.2c0 and Rs.500

    (d)

    All the above

  8. Net export equals _______.

    (a)

    Export x Import

    (b)

    Export + Import

    (c)

    Export - Import

    (d)

    Exports of services only

  9. Which among the following is a characteristic of underdevelopment?

    (a)

    Vicious circle of poverty

    (b)

    Rising mass consumption

    (c)

    Growth of Industries

    (d)

    High rate of urbanization

  10. A measure of the strength of the linear relationship that exists between two variables is called:

    (a)

    Slope

    (b)

    Intercept

    (c)

    Correlation coefficient

    (d)

    Regression equation

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