The branches of the subject Economics is

(a)

Wealth and welfare

(b)

production and consumption

(c)

Demand and supply

(d)

micro and macro

Who coined the word ‘Macro’?

(a)

Adam Smith

(b)

J M Keynes

(c)

Ragnar Frisch

(d)

Karl Marx

Who is regarded as Father of Modern Macro Economics?

(a)

Adam Smith

(b)

J M Keynes

(c)

Ragnar Frisch

(d)

Karl Marx

Identify the other name for Macro Economics

(a)

Price Theory

(b)

Income Theory

(c)

Market Theory

(d)

Micro Theory

Macro economics is a study of_________

(a)

individuals

(b)

firms

(c)

a nation

(d)

aggregates

Indicate the contribution of J M Keynes to economics

(a)

Wealth of Nations

(b)

General Theory

(c)

Capital

(d)

Public Finance

A steady increase in general price level is termed as_____________.

(a)

wholesale price index

(b)

Business Cycle

(c)

Inflation

(d)

National Income

Identify the necessity of Economic policies

(a)

to solve the basic problems

(b)

to overcome the obstacles

(c)

to achieve growth

(d)

all the above

Indicate the fundamental economic activities of an economy

(a)

Production and Distribution

(b)

Production and Exchange

(c)

Production and Consumption

(d)

Production and Marketing

An economy consists of

(a)

consumption sector

(b)

Production sector

(c)

Government sector

(d)

All the above

Identify the economic system where only private ownership of production exists

(a)

Capitalistic Economy

(b)

Socialistic Economy

(c)

Globalisic Economy

(d)

Mixed Economy

Economic system representing equality in distribution is _________.

(a)

Capitalism

(b)

Globalism

(c)

Mixedism

(d)

Socialism

Who is referred as ‘Father of Capitalism’?

(a)

Adam Smith

(b)

Karl Marx

(c)

Thackeray

(d)

J M Keynes

The country following Capitalism is ________________

(a)

Russia

(b)

America

(c)

India

(d)

China

Identify The Father of Socialism

(a)

J M Keynes

(b)

Karl Marx

(c)

Adam Smith

(d)

Samuelson

An economic system where the economic activities of a nation are done both by the private and public together is termed as__________

(a)

Capitalistic Economy

(b)

Socialistic Economy

(c)

Globalisic Economy

(d)

Mixed Economy

Quantity of a commodity accumulated at a point of time is termed as ____________..

(a)

production

(b)

stock

(c)

variable

(d)

flow

Identify the flow variable

(a)

money supply

(b)

assests

(c)

income

(d)

foreign exchange reserves

Identify the sectors of a Two Sector Model.

(a)

Households and Firms

(b)

Private and Public

(c)

Internal and External

(d)

Firms and Government

The Circular Flow Model that represents an open Economy

(a)

Two Sector Model

(b)

Three Sector Model

(c)

Four Sector Model

(d)

All the above