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12th Standard Economics English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Five

12th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. Match the correct codes

    1 Y = C + I i Don’t exist
    2. Y = C + I + G ii Two Sector
    3. Y = C + I + G + (X – M) iii Three Sector
    4. Y = C iv Four Sector
    (a)

    (1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)

    (b)

    (1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)

    (c)

    (1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)

    (d)

    (1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

  2. Great care is required to calculate ____________.

    (a)

    Capital Gains

    (b)

    Social Accounting

    (c)

    Double Counting

    (d)

    Statistical Problems

  3. Based on Keynesianism __________ is vice.

    (a)

    Saving

    (b)

    Production

    (c)

    Consumption

    (d)

    None of these

  4. The simple accelerated model was made by J.M. Clark in __________

    (a)

    1915

    (b)

    1916

    (c)

    1917

    (d)

    1910

  5. Assertion (A): The progressive tax system increases the propensity to consume of the people by altering the income distribution in favour of poor.
    Reason (R): When government reduces the tax the disposable income rises and the propensity to consume of community increases.

    (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.

  6. After a period of depression ______ sets in.

    (a)

    recovery

    (b)

    prosperity

    (c)

    boom

    (d)

    trough

  7. _____ is generally understood as an institution which provides fundamental financial services such as accepting deposits and lending loans.

    (a)

    A Central Bank

    (b)

    A bank

    (c)

    An agency finance

    (d)

    Finance company

  8. ______ have only an internet presence, which enables them to lower costs than traditional brick-and-mortar banks

    (a)

    indirect banks

    (b)

    development bank

    (c)

    cooperative bank

    (d)

    direct banks

  9. Find the meaning of following statement. “Import duties levied on goods from outside the country, ultimately paid for by consumers and retailers”

    (a)

    Sales Tax

    (b)

    Custom Duty

    (c)

    Gift Tax

    (d)

    GST

  10. The law of conservation of matter and energy, emphasizes that in any production system “what goes in must come out”. Name the Law:

    (a)

    The second law of thermodynamics

    (b)

    The third law of thermodynamics

    (c)

    The first law of thermodynamics

    (d)

    none of the above

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