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Economics 12ths std

Total questions: 117

Worksheet time: 59mins

Name
Class
Date
1.

The branches of the subject economics is

a)

Wealth and welfare

b)

Production and consumption

c)

Demand and supply

d)

Micro and macro

2.

Who coined the word'Macro'?

a)

Adam smith

b)

J.m.keynes

c)

Ragnar frisch

3.

Who is regarded as Father of modern macro economics?

a)

Adam smith

b)

J.M.keynes

c)

Ragnar frisch

d)

Karl marx

4.

Identify the other name for macro economics

a)

Price theory

b)

Income theory

c)

Market theory

d)

Micro theory

5.

Macro economics is a study of ...

a)

Individuals

b)

Firms

c)

A nation

d)

Aggregates

6.

Indicate the contribution of J.M.KEYNES to economics

a)

Wealth of nations

b)

General theory

c)

Capital

d)

Public finance

7.

A study increase in general price level is termed as

a)

Wholesale price index

b)

Business cycle

c)

Inflation

8.

Identify the necessity of economic policies

a)

To solve the basic problem

b)

To overcome the obstacles

c)

To achieve growth

d)

All the above

9.

Indicate the fundamental economic activities of an economy

a)

Production and distribution

b)

Production and exchange

c)

Production and consumption

d)

Production and marketing

10.

An economy consist of

a)

Consumption sector

b)

Production sector

c)

Government sector

d)

All the above

11.

Identify the economic system where only private ownership of production exists

a)

Capitalist economy

b)

Socialist economy

12.

Economic system representing equality in distribution is

a)

Capitalism

b)

Globalism

c)

Mixedism

d)

Socialism

13.

Father of capitalism

a)

Adam smith

b)

Karl marx

c)

J m keynes

14.

The country following capitalism is

a)

Russia

b)

America

15.

The father of socialism

a)

Adam smith

b)

J.m.keynes

c)

Karl marx

d)

Samuelson

16.

An economic system where economic activities of a nation done both by the private and public together is

termed as..

a)

Capitalist economy

b)

Socialist economy

c)

Mixed economy

17.

Quantity of a commodity accumulated at a point of time is termed as

a)

Production

b)

Stock

c)

Variable

d)

None of these

18.

The flow of variable

a)

Income

b)

Money supply

19.

The sector of a two sector model

a)

Private and public

b)

Internal and external

c)

Firms and governments

d)

Households and firms

20.

The circular flow model represents an open economy

a)

Two sector model

b)

Three sector model

c)

Four sector model

d)

All the above

21.

Net national product at factory cost is also known as

a)

National income

b)

Domestic income

c)

Percapita income

22.

Primary sector is

a)

Industry

b)

Trade

c)

Agriculture

23.

National income is measured by .....methods

a)

Two

b)

Three

c)

One

24.

Income method is measured summing up of all forms of......

a)

Revenue

b)

Income

c)

Expenditure

25.

Which is the largest figure?

a)

Disposable income

b)

Personal income

c)

Nnp

d)

Gnp

26.

Expenditure method is used to estimate national income in...

a)

Construction sector

b)

Agricultural sector

c)

Service sector

d)

Banking sector

27.

Tertiary is also called as...

Sector

a)

Service

b)

Income

c)

Industrial

28.

National income is a measure of the ....performance of an economy.

a)

Industrial

b)

Agricultural

c)

Economic

d)

Consumption

29.

Prrcapita income is obtained by dividing the national income by

a)

Production

b)

Population of a country

c)

Expenditure

30.

GNP=.........+Net factor income from abroad

a)

Nnp

b)

Ndp

c)

Gdp

31.

Nnp stands for

(a)  

32.

......is deducted from gross value to get the net value

a)

Income

b)

Depreciation

c)

Expenditure

d)

Value of final goods

33.

The financial year in india

(a)  

34.

When net factor income from abroad is deducted from NN0, The net value is......

a)

Gross national product

b)

Disposable income

c)

Net domestic product

35.

The value of NNP at production point is called

a)

NNP at factor cost

b)

NNP at market cost

36.

The average income of the country is.........

a)

Personal income

b)

Per capita income

c)

Inflation rate

37.

The value of national income adjusted for inflation is called

a)

Inflation rate

b)

Disposal income

c)

Real national income

38.

Flow concept

a)

Number of shirts

b)

Total wealth

c)

Monthly income

d)

Money supply

39.

PQLI is the indicator of

a)

Economic growth

b)

Economic welfare

40.

The largest proportion of national income comes from

a)

Private sector

b)

Local sector

41.

Every able bodied person who is willing to work at the present ailing wage rate is employed called as........

a)

Full employment

b)

Under employment

42.

Structural unemployment is a feature in a ........

a)

Static society

b)

Socialist society

c)

Dynamic society

43.

In disgusted unemplo6,the margianal productivity of labour is......

a)

Zero

b)

One

c)

Three

44.

The main conentation of the classical economic theory is.......

a)

Under employment

b)

Economy is always in the state of equilibrium

c)

Demand creates its supply

45.

J.B.say is a...........

a)

Neo classical economist

b)

Classical economist

c)

Modern economist

46.

According to Keynes which type of unemployment prevails in capitalist economy?

a)

Full employment

b)

Voluntary employment

c)

Involuntary employment

d)

Under employment

47.

The core of the classical theory employment is.......

a)

Law of diminishing return

b)

Law of demand

c)

Law of markets

48.

Keynes attributes unemployment ...

a)

A lack of effective supply

b)

A lock of effective demand

c)

A lack of both

49.

......flexibility brings equality between saving and investment.

a)

Demand

b)

Supply

c)

Capital

d)

Interest

50.

............theory is a turning point in the development of modern economic theory.

a)

Keynes`

b)

Say's

51.

The basic concept used in keynes theory of employment and income........

a)

Aggregate demand

b)

Aggregate supply

c)

Effective demand

52.

The component of aggregate demand is ....

a)

Personal demand

b)

Government expenditure

c)

Only export

53.

Aggregate supply is =

(a)  

54.

Keynes theory peruse to replace laissez faire by.......

a)

No government intervention

b)

Maximum intervention

c)

State intervention in certain situation

55.

In Keynes theory of employment and income......is the basic cause of economic depression.

a)

Less production

b)

More demand

c)

Inelastic supply

d)

Less aggregate demand in relation to productive capacity

56.

Classical theory advocates.......

a)

Balanced budget

b)

Unbalanced budget

57.

Keynes theory emphasized on.......equilibrium.

a)

very short run

b)

Short run

c)

Very long run

d)

Long run

58.

According to the classical theory ,rate of interest is a reward for....

a)

Investment

b)

Demand

c)

Capital

d)

Saving

59.

In keynes theory the demand for and supply of money are determined by...

a)

Rate of interest

b)

Effective demand

60.

Say's law stressed the operation of

................in the economy.

a)

Induced price mechanism

b)

Automatic price mechanism

61.

The average propensity to consume is measured by

........

a)

C/y

b)

C×y

62.

An increase in the marginal propensity to consume will

a)

Lead to consumption function becoming steeper

b)

Shift the consumption function upwards

c)

Shift the consumption function downwards

d)

Shift saving function upwards

63.

Th MPC is equal to

a)

Total spending/total consumption

b)

Total consumption/change in income

c)

Change in consumption/change in income

d)

None of the above

64.

The relationship between total spending on consumption and the total income is the.............

a)

Consumption function

b)

Savings function

c)

Investment function

d)

Aggregate demand function

65.

The sum of the MPC and MPS is.........

a)

1

b)

2

c)

3/4

66.

As income increases consumption will ...............

a)

Decrease

b)

Increase

c)

Fall

67.

When investment is assumed autonomous the slope of the AD schedule is determined by the......

a)

Marginal propensity to invest

b)

Disposable income

c)

Marginal propensity to consume

68.

The multiplier tells us how much .......

Changes after a shift in......

a)

Consumption ,income

b)

Investment ,output

c)

Savings ,investment

d)

Output,aggregate demand

69.

The multiplier is calculated as

a)

1/(1-MPC)

b)

1/MPS

c)

1/MPC

70.

It the MPC is 0.5, the multiplier is........

a)

2

b)

1/2

71.

In an open economy import..............

the value of the multiplier.

a)

Reduces

b)

Increase

c)

Does not change

72.

According to keynes,investment is a function of the MEC and........

a)

Demand

b)

Supply

c)

Income

d)

Rate of interest

73.

The term super multiplier was first used by .....

a)

J.R.Hicks

b)

Keynes

74.

The term MEC was introduced by.......

a)

Adam smith

b)

J.M.keynes

75.

The RBI headquarters is located at

a)

Delhi

b)

Mumbai

76.

Money is

a)

Acceptable only when it has intrinsic value

b)

Constant in purchasing power

c)

The most liquid of all assets

77.

Paper currency system is Manged by ..........

a)

Central monetary authority

b)

State governemnt

c)

Central government

78.

The basic distinction between M1 and M2 is with regard to.......

a)

Post office total deposits

b)

Saving deposit with post office

c)

Currency

79.

Irving Fisher 's quantity theory of money was popularized in.....

a)

1901

b)

1911

80.

MV stands for

a)

Demand for money

b)

Supply of legal tender money

c)

Supply of bank money

81.

Inflation means....

a)

Prices are rising

b)

Prices are falling

82.

...............inflation results in a serious depreciation of the value of money.

a)

Creeping.

b)

Walking

c)

Running

d)

Hyper

83.

...........inflation occurs when general prices of commodities increase due to increase in production costs such as wages and raw materials.

a)

Cost-push

b)

Demand pull

84.

During inflation, who are the gainers?

a)

Debtors

b)

Creditors

85.

.........is a decrease in the rate of inflation

a)

Disinflation

b)

Stagflation

c)

Depression

d)

Deflation

86.

Stagflation combine the rate of inflation with......

a)

Stagnation

b)

Employment

c)

Output

87.

The study of alternating fluctuations in business activity is referred to in economics as

a)

Boom

b)

Recession

c)

Recovery

d)

Trade cycle

88.

During the level of economic activity becomes extremely...

a)

High

b)

Bad

c)

Low

89.

"Money can be anything that is generally acceptable as a means of exchange and that the same time acts as a measure and w store of value.."this definition was given by

a)

Adam smith

b)

Crowther

c)

F.A.Walker

90.

Debit card is an example of...

a)

Currency

b)

Paper currency

c)

Plastic money

91.

Fishers quantity theory of money is based on the essential function money as

a)

Measure of value

b)

Store of vale

c)

Medium of exchange

92.

V in MV=PT equation standards for....

a)

Volume of trade

b)

Velocity of circulation of money

c)

Volume of transaction

93.

When prices rise slowly ,we call it

a)

Galloping inflation

b)

Mild inflation

94.

.............inflation is in no way dangerous to the economy .

a)

Walking

b)

Running

c)

Creeping

95.

A Bank is a.......

a)

financial institution

b)

corporate

c)

An Industry

d)

Service institution

96.

A Commercial bank is an institutions at provides services..

a)

accepting deposits

b)

providing loans

c)

interest

d)

none of the above

97.

The function of commercial banks are broadly classified into

a)

primary functions

b)

secondary functions

c)

other functions

d)

none of these

98.

Bank credit refers to

a)

bank loans

b)

advances

c)

bank loans and advances

d)

interest

99.

Credit creation means ........

a)

multiplication of loans and advances

b)

revenue

c)

expenditure

d)

Debt

100.

NBFI DOES NOT HAVE

a)

BANKING LICENSE

b)

GOVERNMENT APPROVED

c)

MONEY MARKET APPROVAL

d)

FINANCE MINISTRY APPROVAL

101.

Central bank is--------authority of any country.

a)

monetary

b)

fiscal

c)

wage

d)

national income

102.

Who will act as the banker to the Government of India?

a)

ICIC

b)

NABARD

c)

RBI

103.

Lender of the last resort in one of the functions of

a)

central bank

b)

commercial bank

104.

Bank rate means......

a)

interest rate

b)

re-discouting the first class securities

105.

Repo rate means......

a)

Rate at which the Commercial banks are willing to lend to RBI

b)

Rate at which the RBI is willing to lend to commercial banks

106.

Moral suasion refers to...

a)

Optimization

b)

maximixation

c)

persuasion

d)

minimization

107.

ARDC started functioning from...

a)

june 3,1963

b)

july 3,1963

c)

june1,1963

d)

july 1, 1963

108.

NABARD was set up in

a)

july 1962

b)

july 1982

c)

june 1980

d)

may 1983

109.

EXIM bank establish in

a)

june 1982

b)

april 1982

c)

may 1982

d)

march 1982

110.

The state financial Corporation act was passed by...

a)

Government of INDIA

b)

Government of TAMILNADU

c)

LOCAL GOVERNMENT

111.

Monetary Policy is formulated by.....

a)

co-operative banks

b)

centralbanks

c)

national banks

112.

Online banking is also known as.....

a)

E-banking

b)

Internet banking

c)

RTGS

d)

NEFT

113.

Expansion of ATM

a)

AUTOMATED TELLER MACHINE

b)

AUTOMATED TALLER MASHINE

c)

AUTOMATIC TELLER MACHINE

114.

2016 Demonertization of currency includes denominations of....

a)

200 and 100

b)

500

c)

1000

115.

Trade between two countries is known as......trade.

a)

internal

b)

external

c)

Home

116.

Which of the following factors influence trade?

a)

the stage of development of a product

b)

the relative price of factors of a productions.

c)

Government

d)

all the above

117.

international trade differs from domestic trade because of ..

a)

trade restriction

b)

Immobility of factors

c)

different government policies

d)

all the above

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