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

12th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. Non-interference of the state is a characteristic features of the ___________.

    (a)

    Socialist Economy

    (b)

    Capitalist Economy

    (c)

    Traditional Economy

    (d)

    Command Economy

  2. Which of the following is a basic characteristic of Capitalism?

    (a)

    economic decisions occur in markets

    (b)

    income is distributed on the basis of “need.”

    (c)

    private ownership of property is illegal

    (d)

    none of the above answers are correct

  3. Assertion (A) :National Income is considered as an indicator of the economic wellbeing of a country.
    Reason (R) :The economic progress of countries is measured in terms of their GDP per capita and their annual growth rate

    (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 tr

  4. J.M. Keynes was born in _____________

    (a)

    1885

    (b)

    1884

    (c)

    1883

    (d)

    1882

  5. In classical theory of employment, there is the possibility of:

    (a)

    Voluntary unemployment

    (b)

    No unemployment

    (c)

    Involuntary unemployment

    (d)

    Disguised unemployment

  6. Multiplier K = _____________

    (a)

    C + S

    (b)

    C + I

    (c)

    1/1- MPC

    (d)

    ΔS/ΔY

  7. Which of the following is correct?

    (a)

    1+ MPS = MPC

    (b)

    1- MPC = MPS

    (c)

    MPC + MPS > 1

    (d)

    MPC + MPS < 1

  8. Expand the RDR

    (a)

    Renew deposit Ratio (RDR)

    (b)

    Reserve development Ratio (RDR)

    (c)

    Rational deposit Ratio (RDR)

    (d)

    Reserve deposit Ratio (RDR)

  9. Who said the following statement? “A state of abnormal increase in the quantity of purchasing power?

    (a)

    Fisher

    (b)

    Gregorye

    (c)

    Marshall

    (d)

    Keynes

  10. Which had sprung from a private bank established in 1656 is the oldest central bank in the world?

    (a)

    The Ricks Banks of Swede

    (b)

    The Ricks Banks of Spain

    (c)

    The Royal Banks of Switzerland

    (d)

    The Ricks Board of Sweden

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