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Published on: 01/03/2021
12th Standard English Medium Economics Reduced Syllabus One Mark Important Questions - 2021(Public Exam )
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.
In classical theory which of the following is found in the economy
Unemployment
Involuntary unemployment
Less than full employment
Full employment
2.
A situation in which every able bodied person who is willing to work at the prevailing wage rate, is employed_________?
Less than full employment
Full employment
underemployment
structural employment
3.
Disposable Income does not include:
Excise duty paid
Income tax
Customs duty paid
None of the above
4.
The simple circular flow model shows that:
Households are on the buying side of both product and resource market
Businesses are on the selling side of both product and resource markets
Households are on the selling side of the resource market and on the buying side of the product market
Businesses are on the buying side of the product market and on the selling side of the resource market.
5.
Assertion: The means of production in a capitalistic economy are publicly owned.
Reason: Manufacturers produce goods and services with profit motive
Both A and R are true and R is the correct explanation of A.
Both A and R are true but R is not the correct explanation of A.
A is true but R is false
A is false but R is true
6.
______________ is the author of the "General theory of employment, interest and money"
J.M. Keynes
J.B. Say's
David Ricardo
Malthus
7.
Tertiary sector is _________
Industry
Banking
Agriculture
Import and Export
8.
_________ Income is the buying power of nominal income.
Gross Income
Real Income
Percapita Income
National Income
9.
GNP is the total measure of the flow of _______ and services.
Semi goods
Semi finished good
Final goods
None of these
10.
Percapita Income =
National Income - Population
National Income + Population
National Income \(\div\) Population
National Income x Population
11.
'Full employments the absence of involuntary unemployment' was said by __________.
J.B. Say
Ricardo
J.M. Keynes
Adam smith
12.
Capitalism leads to ___________.
Central planning
Class struggle
Welfare
All the above
13.
Absence of Price Mechanism is a characteristic feature of the ___________.
Socialist economy
Capitalist economy
Traditional economy
Mixed economy
14.
Planned economy is also known as _________.
Capitalist Economy
Socialist Economy
Mixed Economy
All the above
15.
16.
17.
Short-term plan is also known as________
Controlling Plans
De-controlling Plans
Rolling Plans
De-rolling Plans
18.
The non-economic determinant of economic development
Natural resources
Human resource
Capital formation
Foreign trade
19.
Global warming also refers to as
Ecological change
Climate Change
Atmosphere change
None of the above
20.
Environmental goods are ____________
Market goods
Non-market goods
Both
None ofthe above
21.
The word budget has been derived from the French word "bougette" which means
A small bag
An empty box
A box with papers
None of the above
22.
"Revenue Receipts" of the Government do not include
Interest
Profits and dividents
Recoveries and loans
Rent from property
23.
The tax possesses the following characteristics
Compulsory
No quid pro quo
Failure to pay is offence
All the above
24.
The modern state is
Laissez-faire state
Aristocratic state
Welfare state
Police state
25.
The Tenth BRICS Summit was held in July 2018 at
Beijing
Moscow
Johannesburg
Brasilia
26.
The headquarters of ASEAN is
Jaharta
New Delhi
Colombo
Tokyo
27.
The other name for Special Drawing Rights is
Paper gold
Quotas
Voluntary Export Restrictions
None of these
28.
Cyclical disequilibrium in BOP occurs because of
Different paths of business cycle.
The income elasticity of demand or price elasticity of demand is different.
long-run changes in an economy
Both (a) and (b)
29.
Tourism and travel are classified in which of balance of payments accounts?
merchandise trade account
services account
unilateral transfers account
capital account
30.
Who among the following enunciated the concept of single factoral terms of trade?
Jacob Viner
G.S.Donens
Taussig
J.S.Mill
31.
Exchange rate for currencies is determined by supply a!ld demand under the-system of
Fixed exchange rate
Flexible exchange rate
Constant
Government regulated
32.
Exchange rates are determined in
money market
foreign exchange market
stock market
capital market
33.
34.
Monetary policy his formulated by.
Co-operative banks
Commercial banks
Central Bank
Foreign banks
35.
ARDC started functioning from
June 3, 1963
July 3, 1963
June 1, 1963
July 1, 1963
36.
Repo Rate means.
Rate at which the Commercial Banks are willing to lend to RBI
Rate at which the RBI is willing to lend to commercial banks
Exchange rate of the foreign bank
Growth rate of the economy
37.
A Commercial Bank is an institution that provides services
Accepting deposits
Providing loans
Both a and b
None of the above
38.
MV stands for
demand for money
supply of legal tender money
Supply of bank money
Total supply of money
39.
Irving Fisher’s Quantity Theory of Money was popularized in
1908
1910
1911
1914
40.
The term MEC was introduced by
Adam Smith
J.M. Keynes
Ricardo
Malthus
41.
The sum of the MPC and MPS is________.
1
2
0.1
1.1
42.
If the Keynesian consumption function is C=10+0.8Y then, when disposable income is Rs 100, what is the marginal propensity to consume?
₹ 0.8
₹ 800
₹ 810
₹ 0.81
43.
An increase in the marginal propensity to consume will:
Lead to consumption function becoming steeper
Shift the consumption function upwards
Shift the consumption function downwards
Shift savings function upwards
44.
_________ Flexibility brings equality between saving and investment
Demand
Supply
Capital
Rate of Interest
45.
According to Keynes, which type of unemployment prevails in capitalist economy ?
Full employment
Voluntary unemployment
Involuntary unemployment
Under employment
46.
PQLI is the indicator of___________.
Economic growth
Economic welfare
Economic welfare
Economic development
47.
__________ is deducted from gross value to get the net value
Income
Depreciation
Expenditure
Value of final goods
48.
Income method is measured by summing up of all forms of__________
Production
Taxes
expenditure
Income
49.
Quantity of a commodity accumulated at a point of time is termed as ____________..
production
stock
variable
flow
50.
A steady increase in general price level is termed as_____________.
wholesale price index
Business Cycle
Inflation
National Income
1.
(d)
Full employment
2.
(b)
Full employment
3.
(b)
Income tax
4.
(c)
Households are on the selling side of the resource market and on the buying side of the product market
5.
(d)
A is false but R is true
6.
(a)
J.M. Keynes
7.
(b)
Banking
8.
(b)
Real Income
9.
(c)
Final goods
10.
(c)
National Income \(\div\) Population
11.
(c)
J.M. Keynes
12.
(b)
Class struggle
13.
(a)
Socialist economy
14.
(b)
Socialist Economy
15.
(a)
16.
(d)
17.
(a)
Controlling Plans
18.
(b)
Human resource
19.
(d)
None of the above
20.
(b)
Non-market goods
21.
(a)
A small bag
22.
(d)
Rent from property
23.
(d)
All the above
24.
(c)
Welfare state
25.
(c)
Johannesburg
26.
(a)
Jaharta
27.
(a)
Paper gold
28.
(d)
Both (a) and (b)
29.
(b)
services account
30.
(a)
Jacob Viner
31.
(b)
Flexible exchange rate
32.
(b)
foreign exchange market
33.
(a)
34.
(c)
Central Bank
35.
(d)
July 1, 1963
36.
(b)
Rate at which the RBI is willing to lend to commercial banks
37.
(c)
Both a and b
38.
(b)
supply of legal tender money
39.
(c)
1911
40.
(b)
J.M. Keynes
41.
(a)
1
42.
(a)
₹ 0.8
43.
(a)
Lead to consumption function becoming steeper
44.
(d)
Rate of Interest
45.
(d)
Under employment
46.
(b)
Economic welfare
47.
(b)
Depreciation
48.
(d)
Income
49.
(b)
stock
50.
(c)
Inflation
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Tamilnadu Stateboard 12th Standard Subjects
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Chemistry
Physics
Biology
Computer Science
Business Maths and Statistics
Economics
Commerce
Accountancy
History
Computer Applications
Biology
Computer Technology
Computer Applications
Computer Science
Business Maths and Statistics
Commerce
Economics
Maths
Chemistry
Physics
Computer Technology
History
Accountancy
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