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