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WorksheetsMacro Economics
Total questions: 44
Worksheet time: 27mins
What is GDP per capita?
GDP divided by the value of capital inputs
GDP divided by the population
GDP divided by the number of workers
GDP divided by the number of weeks in the year
The rate of economic growth is measured by
(original/difference) x 100
difference x 100
potential - actual level of output
(difference/original) x 100
A period of high economic activity and high employment is:
A recovery
A recession
A boom
A slowdown
A period of high economic activity and high employment is:
A recovery
A recession
A boom
A slowdown
A period of high economic activity and high employment is:
A recovery
A recession
A boom
A slowdown
A period of high economic activity and high employment is:
A recovery
A recession
A boom
A slowdown
Which of the following will NOT increase economic growth?
Updates in technology
Immigration
Increased taxation
Increased Government spending
Unemployment occurs when
Someone wants a job but can't find work
Someone is able and willing to work but can't find a job
Someone is able to work but does not have employment
Work provided is not sufficient to meet the needs of workers
The rate of unemployment is
How many people are not in work / Total Population x 100
Total Unemployed/Total population x 100
Total unemployed/Workforce x 100
Total unemployed/ (total employed + total unemployed) x 100
Microeconomics studies individuals, Macroeconomics studies...
macros
individual decisions
economic aggregates
lots of little details
Which is NOT a component of expenditure based GDP?
S = Surplus
C = Consumption
I = Investment of new physical capital
G = Government expenditure
X = Exports
An expansionary monetary policy will lower interest rates and...
raise inflation.
lower inflation.
decrease liquidity.
cause mortgage defaults.
RBI may use a contractionary policy when...
the economy is slowing down.
there has been a negative economic shock.
when inflation is too high.
during a recession.
C+I+G+(X-M)=
Gross National Product
Gross Domestic Product
Gross National Debt
Gross National Revenue
C+I+G+(X-M)=
Gross National Product
Gross Domestic Product
Gross National Debt
Gross National Revenue
(CPI) or the Consumer Price Index is best represented by which formula?
C=I=G=(X-M)
Number of Unemployed Persons / Labor Force.
(Cost of basket in current period/Cost of basket in base period) × 100
Y = C + I + G + X + Z.
Rising prices =?
inflation
stagflation
deflation
dogflation
A budget surplus is best described as which of the following
Revenue is greater than expenses
Revenue is less than expenses
Revenue is equal to expenses
Expenses is greater than revenue
Represents how goods, services, and money move through our economy.
Circular Flow Diagram
Supply Curve
Demand Curve
Supply and Demand Curve
Money is a medium of exchange, store of value, and a unit of account, durable, portable, divisible, and uniform.
True
False
What is applicable to one individual unit or sector may not be applicable to the economy as a whole. This is called as
Macroeconomic Paradox
Exception to rule
Mismanagement by Govt
Giffen's law
An estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country's residents is called as
Gross national product (GNP)
Gross Domestic product (GDP)
Net national product (NNP)
Real national product (RNP)
Household provide factor services and consumer spending to firms. Firms provide income and goods and services. This is known as
Reciprocal flow of income
Circular flow of income
Mutual needs
National Income
Market Value of Finished Goods + Market Value of Finished Services - Depreciation =
GDP
GNP
NNP
NDP
Which country ha highest PCI?
USA
China
Singapore
Qatar
In 1950 ____ published a plan document called ‘Sarvodya Plan’.
Jawaharlal Nehru
Subhas Chandra Bose
Jai Prakash Narayan
Vishweshwarayya
Planning Commission is renamed as
NITI Aayog
Yojana Mandal
Public Private Planning
Yojana Ayog
National Development Council was setup in
1952
1942
1962
1972
To discourage the imports most of the counties were following “_____” policy.
Free Trade
Globalisation
Liberalisation
Protection
New economic policy was started during the Prime Ministership of
Manmohan Singh
Vajpayee
P V Narasimha Rao
Rajiv Gandhi
Foreign exchange reserves were lowest in India in
1988
1991
2001
1996
The growing economic interdependence of countries worldwide has necessitated
Globalisation
Protection policy
Privatisation
Nationalisation
_____ implies that production is the key to economic growth and prosperity
Malthusian theory
Adam Smith
Say's Law
Keynson
Keynes formulated a comprehensive theory to explain how the level of income and employment in an economy is determined
Say's Law
Adam Smith
Recardo
Keynes
That aggregate demand at which the economy is in equilibrium is called
Effective Supply
Effective Employment
Effective Demand
Full Employment
Who controls and regulates supply of money?
Govt of India
RBI
Mudran Vibhag
Finance ministry
Present Exchange Rate is in the range of 1 USD =
Rs. 50 to 60
Rs. 60 to 70
Rs. 70 to 80
Rs. 80 to 90
