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Chapter-1 Macro Economics
Contributed by: murugan .I
  • 1. The branches of the subject Economics is
A) Micro and macro
B) Production and consumption
C) Wealth and welfare
D) Demand and supply
  • 2. Who coined the word 'Macro'?
A) Ragnar Frisch
B) Karl Marx
C) JM Keynes
D) Adam Smith
  • 3. Who is regarded as Father of Modern Macro Economics?
A) Ragnar Frisch
B) JK Keynes
C) Adam Smith
D) Karl Marx
  • 4. Identify the other name fro Macro Economics.
A) Micro Theory
B) Market Theory
C) Income Theory
D) Price Theory
  • 5. Macro economics is a study of ________
A) Individuals
B) Aggregates
C) A nation
D) Firms
  • 6. Indicate the contribution of JK Keynes to economics.
A) Public Finance
B) General Theory
C) Capital
D) Wealth of Nations
  • 7. A steady increase in general price level is termed as ______
A) Business Cycle
B) Inflation
C) Wholesale price index
D) National Income
  • 8. Identify the necessity of Economic policies.
A) To achieve growth
B) All of the above
C) To overcome the obstacles
D) To solve the basic problems
  • 9. Indicate the fundamental economics activities of an economic activities of an economy.
A) Production ane Distribution
B) Production and Marketing
C) Production and Exchange
D) Production and Consumption
  • 10. An economy consists of
A) Consumption sector
B) Government sector
C) All of the above
D) Production sector
  • 11. Identify the economic system where only private ownership of production exists
A) Capitalistic Economy
B) Globalisic Economy
C) Socialistic Economy
D) Mixed Economy
  • 12. Economic system representing equality in distribution is______
A) Mixedism
B) Gobalism
C) Capitalism
D) Socialism
  • 13. Who is referred as 'Father of Capitalism:?
A) Thackeray
B) JM Keynes
C) Karl Marx
D) Adam Smith
  • 14. The country following Capitalism is ______
A) America
B) India
C) China
D) Russia
  • 15. Identify The Father of Socialism.
A) Adam Smith
B) JM Keynes
C) Samuelson
D) Karl Marx
  • 16. An economic system where the economic activities of a nation are done both by the private and public together is termed as ______
A) Capitalism Economy
B) Socialism Economy
C) Globalisic Economy
D) Mixed Economy
  • 17. Quantity of a commodity accumulated at a point of time is termed as ______.
A) Production
B) Stock
C) Variable
D) Flow
  • 18. Identify the flow variable .
A) Assests
B) Froegin exchange reserves
C) Money supply
D) Income
  • 19. Identify the sectors of a Two sector Model.
A) Firma and Government
B) Household and Firms
C) Internal and External
D) Private and Public
  • 20. The Circular Flow Model that represents an open Economy.
A) Two Sector Model
B) Three Sector Model
C) Four Sector Model
D) All of the above
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