#### 12th Standard Economics English Medium Free Online Test Creative 1 Mark Questions - Part Four

12th Standard

Reg.No. :
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Economics

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

10 x 1 = 10
1. The government has a limited role in a capitalistic economy
The government provides basic servicessuch as, defense, public health, education, etc.

(a)

Both (A) and (R) are true and (R) is the correct explanation of (A).

(b)

Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(c)

(A) is true, but (R) is false

(d)

(A) is false, but (R) is true

2. _________ provides the social goods like public health and education etc.

(a)

Private

(b)

Government

(c)

Unorganised sector

(d)

None of these

3. Say's law of market is the core of the __________ theory of employment.

(a)

classical

(b)

economical

(c)

environmental

(d)

proportional

4. Formula for calculating Multiplier

(a)

$K=\frac{1}{1-MPC}$

(b)

$\frac{ΔY}{ΔI}$

(c)

$\frac{1}{MPS}$

(d)

All the above

5. In India, currency notes are issued by the_______

(a)

State Bank

(b)

RBI

(c)

World Bank

(d)

SBI

6. The first International Finance Conference held at Brussels in _____ ?

(a)

1922

(b)

1920

(c)

1921

(d)

1932

7. ________ refers to the exchange of goods and services with the political and geographical boundaries of a nation.

(a)

(b)

(c)

(d)

8. As of now, The IBRD has …………..member countries

(a)

188

(b)

189

(c)

35

(d)

210

9. A state’s fine is a penalty imposed on an individual for………….?

(a)

violation of law

(b)

social welfare

(c)

following duties

(d)

criminal offence

10. Assertion (A): The state has to supplement the traditional revenue sources with borrowing from individuals, and institutions within and outside the country. Reason (R): In the 18th and 19th centuries the role of the state was minimum, but since 20th century there has been enormous increase in the responsibilities of the state.

(a)

Both A and R are true and R is the correct explanation of A.

(b)

Both A and R are true but R is not the correct explanation of A

(c)

A is true but R is false

(d)

A is false but R is true