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Introduction to Macro Economics

12th Standard EM

    Reg.No. :
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Economics

Answer All The Questions:
Time : 01:00:00 Hrs
Total Marks : 100
    Part-A
    10 x 1 = 10
  1. The branches of the subject Economics is

    (a)

    Wealth and welfare

    (b)

    production and consumption

    (c)

    Demand and supply

    (d)

    micro and macro

  2. Who coined the word ‘Macro’?

    (a)

    Adam Smith

    (b)

    J M Keynes

    (c)

    Ragnar Frisch

    (d)

    Karl Marx

  3. Who is regarded as Father of Modern Macro Economics

    (a)

    Adam Smith

    (b)

    J M Keynes

    (c)

    Ragnar Frisch

    (d)

    Karl Marx

  4. Indicate the contribution of J M Keynes to economics

    (a)

    Wealth of Nations

    (b)

    General Theory

    (c)

    Capital

    (d)

    Public Finance

  5. A steady increase in general price level is termed as_____________.

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  6. 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

  7. Indicate the fundamental economic activities of an economy

    (a)

    Production and Distribution

    (b)

    Production and Exchange

    (c)

    Production and Consumption

    (d)

    Production and Marketing

  8. An economy consists of

    (a)

    consumption sector

    (b)

    Production sector

    (c)

    Government sector

    (d)

    All the above

  9. Identify the economic system where only private ownership of production exists

    (a)

    Capitalistic Economy

    (b)

    Socialistic Economy

    (c)

    Globalisic Economy

    (d)

    Mixed Economy

  10. Economic system representing equality in distribution is _________.

    (a)

    Capitalism

    (b)

    Globalism

    (c)

    Mixedism

    (d)

    Socialism

  11. Part-B
    10 x 2 = 20
  12. Write down the three types of economic systems.

  13. What is Globalism?

  14. What are the demerits of socialism?

  15. What do you mean by Socialism?

  16. What is Mixed Economy?

  17. What are the merits of Mixed Economy?

  18. Give examples for Mixed Economic countries.

  19. Give the countries which have communism.

  20. Write down the countries that have capitalistic, economy.

  21. Draw the diagram for Circular flow of income in a Two-sector economy

  22. Part-C
    10 x 3 = 30
  23. State the importance of Macro Economics

  24. Describe the different types of economic systems.

  25. Outline the major merits of capitalism.

  26. Indicate the demerits of socialism

  27. Enumerate the features of mixed economy

  28. Distinguish between Capitalism and Globalism.

  29. Briefly explain the two sector circular flow model.

  30. Outline major demerits of capitalism.

  31. Write any two demerits of capitalism.

  32. Draw the Circular flow of income in a three sector economy.

  33. Part-D
    8 x 5 = 40
  34. Discuss the scope of Macro Economics

  35. Illustrate the functioning of an economy based on its activities

  36. Compare the features of capitalism and socialism

  37. Compare the feature among Capitalism, Secularism and Mixedism

  38. Explain the four sector circular flow model.

  39. Explain the merits of socialism.

  40. Explain the Demerits of capitalism.

  41. Explain the merits of Mixed Economy.

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