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Introduction to Macro Economics - One marks

12th Standard EM

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Economics

Choose The Correct Answer:
Time : 01:00:00 Hrs
Total Marks : 10
    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. Macro economics is a study of_________

    (a)

    individuals

    (b)

    firms

    (c)

    a nation

    (d)

    aggregates

  5. Indicate the contribution of J M Keynes to economics

    (a)

    Wealth of Nations

    (b)

    General Theory

    (c)

    Capital

    (d)

    Public Finance

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

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  7. 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

  8. Indicate the fundamental economic activities of an economy

    (a)

    Production and Distribution

    (b)

    Production and Exchange

    (c)

    Production and Consumption

    (d)

    Production and Marketing

  9. An economy consists of

    (a)

    consumption sector

    (b)

    Production sector

    (c)

    Government sector

    (d)

    All the above

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

    (a)

    Capitalistic Economy

    (b)

    Socialistic Economy

    (c)

    Globalisic Economy

    (d)

    Mixed Economy

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