ThatQuiz Test Library Take this test now
Chapter-1 Macro Economics
Contributed by: murugan .I
  • 1. The branches of the subject Economics is
A) Wealth and welfare
B) Production and consumption
C) Micro and macro
D) Demand and supply
  • 2. Who coined the word 'Macro'?
A) Adam Smith
B) Ragnar Frisch
C) Karl Marx
D) JM Keynes
  • 3. Who is regarded as Father of Modern Macro Economics?
A) JK Keynes
B) Karl Marx
C) Adam Smith
D) Ragnar Frisch
  • 4. Identify the other name fro Macro Economics.
A) Income Theory
B) Market Theory
C) Micro Theory
D) Price Theory
  • 5. Macro economics is a study of ________
A) Aggregates
B) Firms
C) Individuals
D) A nation
  • 6. Indicate the contribution of JK Keynes to economics.
A) Capital
B) Public Finance
C) General Theory
D) Wealth of Nations
  • 7. A steady increase in general price level is termed as ______
A) Wholesale price index
B) Inflation
C) National Income
D) Business Cycle
  • 8. Identify the necessity of Economic policies.
A) To solve the basic problems
B) All of the above
C) To overcome the obstacles
D) To achieve growth
  • 9. Indicate the fundamental economics activities of an economic activities of an economy.
A) Production and Marketing
B) Production ane Distribution
C) Production and Exchange
D) Production and Consumption
  • 10. An economy consists of
A) Government sector
B) Production sector
C) Consumption sector
D) All of the above
  • 11. Identify the economic system where only private ownership of production exists
A) Socialistic Economy
B) Capitalistic Economy
C) Globalisic Economy
D) Mixed Economy
  • 12. Economic system representing equality in distribution is______
A) Socialism
B) Mixedism
C) Gobalism
D) Capitalism
  • 13. Who is referred as 'Father of Capitalism:?
A) Adam Smith
B) JM Keynes
C) Karl Marx
D) Thackeray
  • 14. The country following Capitalism is ______
A) America
B) India
C) China
D) Russia
  • 15. Identify The Father of Socialism.
A) JM Keynes
B) Karl Marx
C) Samuelson
D) Adam Smith
  • 16. An economic system where the economic activities of a nation are done both by the private and public together is termed as ______
A) Socialism Economy
B) Capitalism Economy
C) Globalisic Economy
D) Mixed Economy
  • 17. Quantity of a commodity accumulated at a point of time is termed as ______.
A) Flow
B) Variable
C) Stock
D) Production
  • 18. Identify the flow variable .
A) Income
B) Assests
C) Froegin exchange reserves
D) Money supply
  • 19. Identify the sectors of a Two sector Model.
A) Firma and Government
B) Internal and External
C) Household and Firms
D) Private and Public
  • 20. The Circular Flow Model that represents an open Economy.
A) All of the above
B) Four Sector Model
C) Three Sector Model
D) Two Sector Model
Created with That Quiz — where test making and test taking are made easy for math and other subject areas.