Introduction to Macro Economics Book Back Practice Test

12th Standard Economics — Introduction to Macro Economics: Book Back Online Practice Test

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The branches of the subject Economics are _____________.

A.Wealth and welfare B.production and consumption C.Demand and supply D.micro and macro

Who coined the word 'Macro'?

A.Adam Smith B.J M Keynes C.Ragnar Frisch D.Karl Marx

Who is regarded as the Father of Modern Macro Economics?

A.Adam Smith B.J M Keynes C.Ragnar Frisch D.Karl Marx

Identify the other name for Macro Economics.

A.Price Theory B.Income Theory C.Market Theory D.Micro Theory

Macro economics is a study of ___________________.

A.individuals B.firms C.a nation D.aggregates

Indicate the contribution of J M Keynes to economics.

A.Wealth of Nations B.General Theory C.Capital D.Public Finance

A steady increase in general price level is termed as_____________.

A.wholesale price index B.Business Cycle C.Inflation D.National Income

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

Indicate the fundamental economic activities of an economy.

A.Production and Distribution B.Production and Exchange C.Production and Consumption D.Production and Marketing

Q10

An economy consists of ___________.

A.consumption sector B.Production sector C.Government sector D.All the above

Q11

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

A.Capitalist Economy B.Socialist Economy C.Globalist Economy D.Mixed Economy

Q12

Economic system representing equality in distribution is _________.

A.Capitalism B.Globalism C.Mixedism D.Socialism

Q13

Who is referred as 'Father of Capitalism'?

A.Adam Smith B.Karl Marx C.Thackeray D.J M Keynes

Q14

The country following Capitalism is ________________ .

A.Russia B.America C.India D.China

Q15

Identify The Father of Socialism.

A.J M Keynes B.Karl Marx C.Adam Smith D.Samuelson

Q16

An economic system where the economic activities of a nation are done both by the private and the public sectors together is termed as____________.

A.Capitalist Economy B.Socialist Economy C.Globalist Economy D.Mixed Economy

Q17

Quantity of a commodity measured at a point of time is termed as ____________.

A.production B.stock C.variable D.flow

Q18

Identify the flow variable.

A.money supply B.assets C.income D.foreign exchange reserves

Q19

Identify the sectors of a Two Sector Model.

A.Households and Firms B.Private and Public C.Internal and External D.Firms and Government

Q20

The Circular Flow Model that represents an open Economy.

A.Two Sector Model B.Three Sector Model C.Four Sector Model D.All the above

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About this Introduction to Macro Economics test

This free online practice test covers Introduction to Macro Economics from the 12th Standard Economics (Samacheer Kalvi) syllabus. Choose the number of questions and an optional time limit, then answer and submit — everything is checked in your browser, with the correct answers and a worked explanation shown at the end. For the full solutions to every question in this set, see the solved MCQs page.

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