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12th Standard Economics English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Two

12th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. Identify the other name for Macro Economics

    (a)

    Price Theory

    (b)

    Income Theory

    (c)

    Market Theory

    (d)

    Micro Theory

  2. Find the incorrect match

    (a)

     Capitalistic Economy - Capitalism

    (b)

    Command Economy -  Socialism

    (c)

    Socialistic Economy -  Globalism

    (d)

    Mixed Economy-  Mixedism

  3. GNP = _________ + Net factor income from abroad

    (a)

    NNP

    (b)

    NDP

    (c)

    GDP

    (d)

    Personal income

  4. In case of transfer payments of nation income, expenditures towards payment incurred by the government like old age pension…………..?

    (a)

    should be included

    (b)

    should not be included

    (c)

    both

    (d)

    none

  5. Keynes attributes unemployment to__________

    (a)

    A lack of effective supply

    (b)

    A lock of effective demand

    (c)

    A lack of both

    (d)

    None of the above

  6. A situation in which every able bodied person who is willing to work at the prevailing wage rate, is employed_________?

    (a)

    Less than full employment

    (b)

    Full employment

    (c)

    underemployment

    (d)

    structural employment

  7. As national income increases

    (a)

    The APC falls and gets nearer in value to the MPC

    (b)

    The APC increases and diverges in value from the MPC.

    (c)

    The APC stays constant

    (d)

    The APC always approaches infinity

  8. The basic distinction between M1 and M2 is with regard to

    (a)

    post office deposits

    (b)

    time deposits of banks

    (c)

    saving deposits of banks

    (d)

    currency

  9. Credit creation means

    (a)

    Multiplication ofloans and advances

    (b)

    Revenue

    (c)

    Expenditure

    (d)

    Debt

  10. Terms of Trade of a country show __________.

    (a)

    Ratio of goods exported and imported

    (b)

    Ratio of import duties

    (c)

    Ratio of prices of exports and imports

    (d)

    Both (a) and (c)

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