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Introduction to Macro Economics Automatics

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. Identify the other name for Macro Economics

    (a)

    Price Theory

    (b)

    Income Theory

    (c)

    Market Theory

    (d)

    Micro Theory

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

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  4. 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

  5. Economic system representing equality in distribution is _________.

    (a)

    Capitalism

    (b)

    Globalism

    (c)

    Mixedism

    (d)

    Socialism

  6. Who is referred as ‘Father of Capitalism’?

    (a)

    Adam Smith

    (b)

    Karl Marx

    (c)

    Thackeray

    (d)

    J M Keynes

  7. Identify The Father of Socialism

    (a)

    J M Keynes

    (b)

    Karl Marx

    (c)

    Adam Smith

    (d)

    Samuelson

  8. 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

  9. Identify the flow variable

    (a)

    money supply

    (b)

    assests

    (c)

    income

    (d)

    foreign exchange reserves

  10. Identify the sectors of a Two Sector Model.

    (a)

    Households and Firms

    (b)

    Private and Public

    (c)

    Internal and External

    (d)

    Firms and Government

  11. Part-B
    10 x 2 = 20
  12. Define Macro Economics

  13. Define the term ‘Inflation

  14. Classify the economies based on status of development

  15. What do you mean by Capitalism?

  16. ‘Circular Flow of Income’ - Define

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

  18. Write any three merits of capitalism.

  19. What is Economic Policies?

  20. What is Globalisation?

  21. Identify the following topics which are predominantly macroeconomic

  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. Distinguish between Capitalism and Globalism.

  27. Briefly explain the two sector circular flow model.

  28. Outline major demerits of capitalism.

  29. Explain any two merits of socialism.

  30. What are the limitation of Macro Economics.

  31. Explain are the Demerits of Capitalism

  32. What are the Merits of Socialism?

  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 Demerits of capitalism.

  40. Discuss the features of Capitalist economy

  41. Explain the concepts of macro economics

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