Refer to CBSE Class 12 Economics Macroeconomics MCQs provided below available for download in Pdf. The MCQ Questions for Class 12 Economics with answers are aligned as per the latest syllabus and exam pattern suggested by CBSE, NCERT and KVS. Multiple Choice Questions for Chapter 1 Macroeconomics are an important part of exams for Class 12 Economics and if practiced properly can help you to improve your understanding and get higher marks. Refer to more Chapter-wise MCQs for CBSE Class 12 Economics and also download more latest study material for all subjects
MCQ for Class 12 Economics Chapter 1 Macroeconomics
Class 12 Economics students should refer to the following multiple-choice questions with answers for Chapter 1 Macroeconomics in Class 12.
Chapter 1 Macroeconomics MCQ Questions Class 12 Economics with Answers
Question : Interest rates and bond prices are;
a) positively related
b) negatively related
c) not related
d) Either A or B
Answer : B
Question : (“Economics is a science of logic)’’ Who said it ?
a) Hicks
b) Keynes
c) Robbins
d) Marshall
Answer : C
Question : The deficiency of aggregate demand during depression period leads to
a) Seasonal unemployment
b) Voluntary unemployment
c) Involuntary unemployment
d) Frictional unemployment
Answer : C
Question : An increase in planned investment spending causes aggregate output to;
a) increase by an amount equal to the change in investment spending.
b) increase by an amount less than the change in investment spending.
c) increase by an amount greater than the change in investment spending.
d) decrease by an amount less than the change in investment
Answer : A
Question : Which among the following does not have the application of multiplier
a) Determination of income
b) Fiscal policy
c) Monetary policy
d) Foreign direct investment
Answer : C
Question : Broker's commission on sale and purchase of second hand goods is included in national income because:
a) It is a part of compensation of employees
b) It is a part of GRoss Domestic Capital Formation
c) it is an income earned for rendering productive services
d) None of these
Answer : C
Question : Study of aggregates is known as _________
a) Macroeconomics
b) Microeconomics
c) Price theory
d) Factor price determination
Answer : A
Question : Economy may be classified as:
a) Capitalist
b) Socialist
c) Mixed
d) All of these
Answer : D
Question : The reason for downward shape of production possibility curve is:
a) Increasing opportunity cost
b) Decreasing opportunity cost
c) Same opportunity cost
d) Negative opportunity cost
Answer : B
Question : The central problem of an economy is:
a) What to produce ?
b) How to produce ?
c) How to distribute produced goods ?
d) All of these
Answer : D
Question : Mr. Skund Kumar wants to study the national income. Which branch of economics will he have to study?
a) Microeconomics
b) Price theory
c) Factor price determination
d) Macroeconomics
Answer : D
Question : The basic factors of production are land, labour, capital, and _____.
a) Enterprise
b) Investment
c) Machinery
d) Resources
Answer : A
Question : Multiplayer is the ratio of
a) change in income to change in investment
b) change in investment to change in income
c) change in income to change in interest
d) None of the above
Answer : A
Question : Which one is inclded in National Income?
a) winning from lottery
b) milk purchase by a dairy shop
c) national debt interest
d) none of these.
Answer : D
Question : LM curve represents the combination of ;
a) price and out put
b) Demand for money and supply of money
c) income and investment
d) Money supply and nvestment
Answer : B
Question : Who is known as the father of modern macroeconomics?
a) Adam Smith
b) J.M.Keynes
c) Samuelson
d) Hicks
Answer : B
Question : Which of the following is studied under Micro Economics ?
a) Individual unit
b) Economic Aggregate
c) National Income
d) None of these
Answer : D
Question : Mr. Skund Kumar wants to study the national income. Which branch of economics will he have to study?
a) Microeconomics
b) Price theory
c) Factor price determination
d) Macroeconomics
Answer : D
Question : Macro-static equilibrium implies:
a) A complete absence of change
b) A change at an unchanged rate
c) A change in only absolute values
d) None of these
Answer : A
Question : What is the name of the book written by J.M. Keynes?
a) The Wealth of Nation
b) The General Theory of Employment, Interest, and Money
c) Political Economy
d) None of these
Answer : B
Question : Which of the following is studied under Macro Economics ?
a) National Income
b) Full. Employment
c) Total Production
d) All of these
Answer : D
Question : What is known as the study of individual units?
a) Macroeconomics
b) Microeconomics
c) Income and Employment Theory
d) Development economics
Answer : B
Question : Which of the following is not an economic activity and hence not included while estimating national income in india?
a) medical services rendered by a dispensary
b) a housewife doing household work
c) a lawyer doing his practice
d) a maid working full time with a family
Answer : B
Question : When was the famous book of Prof. Keynes published?
a) 1930
b) 1931
c) 1936
d) 1940
Answer : C
Question : Under which type of activity would you categorise the sale of shares of another firm whilst preparing the cash flow statement?
a) Financing activity
b) Investing and financing
c) Operating activity
d) Investing activity
Answer : D
Question : Who used the word ‘micro’ for the first time:
a) Marshall
b) Boulding
c) Keynes
d) Ragnar Frisch
Answer : D
Question : Which of the following is the salient feature of factors (or resources) ?
a) These are limited as compared to wants
b) These have alternative uses
c) Both a) and b)
d) None of the above
Answer : C
Question : Which of the following is NOT a flow variable?
a) Income
b) Wealth
c) Saving
d) Investment
Answer : B
Question : When did the great depression occur?
a) 1929-30
b) 1934-35
c) 1938-39
d) 1941-42
Answer : A
Question : What is a good in economics
a) It is a service.
b) It can be a service.
c) It is something that appears appealing.
d) It is something that satisfies wants and needs.
Answer : D
Question : Cotton yarns purchased by handloom worker is
a) An intermediate good
b) A consumer good
c) A capital good
d) None of these
Answer : A
Question : Defects in SNA include
a) Neglects depletion of natural capital
b) Neglects environmental pollution
c) Expenditure to defend the effects of pollution
d) All of the above
Answer : D
Question. Which among the following is not a feature of Keynesian theory?
a) Short run
b) Wage price flexibility
c) Fiscal policy
d) Underemployment equilibrium
Answer : B
Question : Under classical theory, rate of interest is determined by
a) Demand for money and supply of money
b) Demand for capital and supply of savings
c) Demand for investment and price level
d) Demand for investment and supply of money
Answer : B
Question : In the classical view, the price level is determined by
a) aggregate supply
b) aggregate demand and supply
c) supply of money
d) aggregate demand
Answer : C
Question : Under Keynesian theory of income determination, investment
a) Depends on income
b) Endogenous
c) Exogenous
d) Depends on money supply
Answer : C
Question : A laptop purchased by consumer is an example of
a) An intermediate good
b) A consumer good
c) Intermediate consumption
d) None of the above
Answer : B
Question : Under Keynesian model aggregate expenditure is measures along
a) Vertical axis
b) Horizontal axis
c) Vertical intercept
d) 450 line
Answer : A
Question : The value of MPC in Keynesian model is:
a) greater than zero and less than one
b) MPC=1
c) MPC greater than one
d) None of the above
Answer : A
Question : Two sector economy consists of:
a) Households, firms
b) Households, Government
c) Firms, Foreign sector
d) Firms, Government.
Answer : A
Question : If factor cost is greater than Market price, then it means that:
a) Indirect taxes > subsidies
b) Indirect taxes = subsidies
c) Indirect Taxes < Subsidies
d) Indirect taxes = and > subsidies
Answer : C
Question : Market price ad factor cost would be equal when there is:
a) no direct tax
b) no indirect tax
c) no subsidy
d) no indirect tax and no subsidy
Answer : D
Question : In which type of economy, domestic income is equal to national income?
a) Open economy
b) Closed Economy
c) Both a and b
d) Neither a nor b
Answer : B
Question : National income is equal to:
a) Domestic product plus factor income earned from abroad
b) domestic product plus net factor income earned from abroad
c) Domestic product mins factor income earned from abroad
d) Domestic product plus export minus imports
Answer : B
CBSE Class 12 Economics Microeconomics MCQs |
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CBSE Class 12 Economics Forms of Market and Price Determination MCQs |
CBSE Class 12 Economics Non Competitive Markets MCQs |
CBSE Class 12 Economics Macroeconomics MCQs |
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ |
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CBSE Class 12 Economics Determination of Income and Employment MCQs |
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MCQs for Chapter 1 Macroeconomics Economics Class 12
Expert teachers of studiestoday have referred to NCERT book for Class 12 Economics to develop the Economics Class 12 MCQs. If you download MCQs with answers for the above chapter you will get higher and better marks in Class 12 test and exams in the current year as you will be able to have stronger understanding of all concepts. Daily Multiple Choice Questions practice of Economics will help students to have stronger understanding of all concepts and also make them expert on all critical topics. After solving the questions given in the MCQs which have been developed as per latest books also refer to the NCERT solutions for Class 12 Economics. We have also provided lot of MCQ questions for Class 12 Economics so that you can solve questions relating to all topics given in each chapter. After solving these you should also refer to Class 12 Economics MCQ Test for the same chapter.
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