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WorksheetsQuiz 1 Basics of Macro Economics
Total questions: 30
Worksheet time: 15mins
Economics is
What we think, what we don't think
What we understand
What we don't understand
Allocation of scarce resources
Macro Economics is better than Micro Economics
True
False
Can't say
All of the above
Macro Economics deals with
Maximum satisfaction of consumer
Max satisfaction of producer through maximum profit
Maximum Welfare
All of the above
Macro Economics deals with partial & overall equilibrium.
True
False
Can't say
Don't understand
Which is not the scope of study of Macro Economics?
Theory of money & banking
Theory of employment
Estimation of Individuals Income & aggregates
Role of Government
Which among them is related to Macro Economics.
Option A
Option B
Option C
Option D
None of them
Which combination of sectors among them is not a part of Closed Economy?
Households & Producers
Households, Producers & Government
All of the above
None of the above
Factor Payments & Factors of production are exactly the same thing.
True
False
Ask school teacher
Ask Abhinav Upadhyay sir
'Households should not save' is an assumption while understanding the concept of Circular Flow of 2 sector economy.
True
False
Providing factors of production & receiving factor Receipts is the Money Flow in Circular Flow of 2 sector economy.
True
False
Real flow deals with flow of goods & services
True
False
Conditions of Consumption Expenditure are
There should be an expenditure
Indirect Satisfaction must be received
Direct Satisfaction must be received
Option 1 & 2 both
Option 1 & 3 both
Car purchased by household is
Consumption expenditure
Investment expenditure
Inventory expenditure
None of the above
Depreciation is
Non cash expenditure
Replacement reserve
Depreciation reserve
All of the above
Fall in the market value of assets as a result of economic recession is
Expected obsolescence
Unexpected obsolescence
Routine obsolescence
Sometimes obsolescence
Less depreciation reserve leads high profits and finally leads to future rise in GDP.
True
False
What should we do in Net Investments to reach to Gross Investments?
Reduce Depreciation
It's already equal
Add Depreciation
None of the above
Construction of Community Park for the health of public by government is ________________ expenditure.
Investment
Consumption
Fixed
Variable
Expenditure of purchase of building by producer who is dealing in shoe manufacturing is
Fixed Investment
Inventory Investment
Both of the above
None of the above
Expenditure made by Non government private organizations is a consumption expenditure.
True
False
Payment of fees to a lawyer engaged by a firm is which good?
Intermediate Good
Final Good
Expenditure on providing free lunch to the employees by a firm is what expenditure?
Intermediate Good Expenditure
Final Good Expenditure
Expenditure by a firm on payment of Audit Fess to a CA.
Intermediate Good Expenditure
Final Good Expenditure
Purchase of uniforms for nurses by a hospital is what good?
Intermediate Goods
Final Goods
Purchase of uniform by Mr A for her daughter is which Good?
Intermediate Goods
Final Goods
Purchase of House by ABC Ltd for employees and provided rent free to them is which type of Good?
Intermediate Good
Final Good
A person who is a End User of a good treat that good as Final Good?
True
False
Capital Formation is Change in Fixed Investment during the year?
True
False
Closing Investments - Opening Investments =
Net Investments
Gross Investments
Closing Inventory Investments - Opening Inventory Investments = Change is stock of capital.
True
False
