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Published on: 23/08/2019
Introduction to Macro Economics
Download Tamil Nadu 12th Standard Economics question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Economics Test
1.
Pick basic composition of two sector of model of economy
Y = C + I + G + (X – M)
Y = C + I + G
Y = C + S
Y = C + I
2.
From the households sectors receives the income?
households sector
government expenditure
external sector
firm sector
3.
What is considered as the heart of any capitalistic economy?
Sales mechanism
Price mechanism
Demand mechanism
Exchange mechanism
4.
Identify which is not a part of classification of economy based on Level of National Income
Foreign Income Economies
Low Income Economies
Middle Income Economies
High Income Economies
5.
Identify which of the following is not an external activity?
import and export
international relations
emigration and immigration
central bank policy
6.
Who defined the following statement for an economy? “An economy is a cooperation of producers and workers to make goods and services that satisfy the wants of the consumers".
A.J. Brown
J.R. Hicks
J.S. Mill
J.M. Keynes
7.
Inflation refers to steady ________ in general price level.
decrease
increase
constant
flat
8.
Identify the stock variable.
Wealth
Income
Foreign exchange
Money
9.
________ is a combination of both capitalism and socialism.
Socialistic economy
Capitalistic economy
Traditional economy
Mixed economy
10.
_________ sector sells the entire output to house holds.
Firm
House hold
Government
Foreign trade
11.
Non-interference of the state is a characteristic features of the ___________.
Socialist Economy
Capitalist Economy
Traditional Economy
Command Economy
12.
Market forces are _________.
Supply and price
Demand and price
Prices of commodity
Supply and demand
13.
Example for Mixed Economy ________.
India
France
China
Both 'a' and 'b'
14.
Macro economics is also known as __________.
Price theory
Income theory
Business cycle
Poverty and unemployment
15.
Macro means ________.
Large
Aggregate
Economy as a whole
All the above
16.
The Circular Flow Model that represents an open Economy
Two Sector Model
Three Sector Model
Four Sector Model
All the above
17.
Identify the sectors of a Two Sector Model.
Households and Firms
Private and Public
Internal and External
Firms and Government
18.
Identify the flow variable
money supply
assests
income
foreign exchange reserves
19.
Identify The Father of Socialism
J M Keynes
Karl Marx
Adam Smith
Samuelson
20.
The country following Capitalism is ________________
Russia
America
India
China
21.
Identify the economic system where only private ownership of production exists
Capitalistic Economy
Socialistic Economy
Globalisic Economy
Mixed Economy
22.
An economy consists of
consumption sector
Production sector
Government sector
All the above
23.
Identify the necessity of Economic policies
to solve the basic problems
to overcome the obstacles
to achieve growth
all the above
24.
A steady increase in general price level is termed as_____________.
wholesale price index
Business Cycle
Inflation
National Income
25.
The branches of the subject Economics are
Wealth and Welfare
Production and Consumption
Demand and Supply
Micro and Macro
1.
(d)
Y = C + I
2.
(d)
firm sector
3.
(b)
Price mechanism
4.
(d)
High Income Economies
5.
(d)
central bank policy
6.
(b)
J.R. Hicks
7.
(b)
increase
8.
(a)
Wealth
9.
(d)
Mixed economy
10.
(a)
Firm
11.
(b)
Capitalist Economy
12.
(d)
Supply and demand
13.
(d)
Both 'a' and 'b'
14.
(b)
Income theory
15.
(d)
All the above
16.
(c)
Four Sector Model
17.
(a)
Households and Firms
18.
(c)
income
19.
(b)
Karl Marx
20.
(b)
America
21.
(a)
Capitalistic Economy
22.
(d)
All the above
23.
(d)
all the above
24.
(c)
Inflation
25.
(d)
Micro and Macro
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History
Computer Applications
Biology
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Computer Science
Business Maths and Statistics
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History
Accountancy
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