Question 1

Macroeconomics does not study _________.

Accepted Answer

A) whole economy 
B) national income 
C) aggregate supply 
D) product pricing) 
A) whole economy 
B) national income 
C) aggregate supply 
D) product pricing) D

Question 2

The average income of a country is called

Accepted Answer

A) Per capita income 
B) Disposable income 
C) Inflation rate 
D) Real national income 
A) Per capita income 
B) Disposable income 
C) Inflation rate 
D) Real national income A

Question 3

Macroeconomics is a study of economics that deals with which 4 major factors:

Accepted Answer

A) households, firms, government, and demand-supply 
B) households, firms, government and external sector 
C) firms, government, free-market, and regulations 
D) none of the above 
A) households, firms, government, and demand-supply 
B) households, firms, government and external sector 
C) firms, government, free-market, and regulations 
D) none of the above B

Question 4

Consider the following statements and identify the right ones.
i. While calculating GNP, income generated by foreigners in a country is taken into consideration
ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account

Accepted Answer

A) I only 
B) ii only 
C) both 
D) none 
A) I only 
B) ii only 
C) both 
D) none

Question 5

Consider the following statements:
1) In a Capitalist economy there is private ownership of means of production
2) In a communist nation, the means of production are owned by the State
3) In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?

Accepted Answer

A) Only 1 and 3 
B) Only 2 and 3 
C) Only 3 
D) All are true 
A) Only 1 and 3 
B) Only 2 and 3 
C) Only 3 
D) All are true

Question 6

What are consumption goods?

Accepted Answer

A) Goods used for consumption in the production process 
B) Goods such as tools, machinery, etc which are used to create final consumption goods 
C) Goods and services that are consumed fully when purchased by the consumers 
D) None of the above 
A) Goods used for consumption in the production process 
B) Goods such as tools, machinery, etc which are used to create final consumption goods 
C) Goods and services that are consumed fully when purchased by the consumers 
D) None of the above

Question 7

Intermediate goods are not included to calculate the final output because:

Accepted Answer

A) they do not have value 
B) they have unknown value 
C) their value is included in final goods so they are not added to avoid the problem of double counting 
D) none of the above 
A) they do not have value 
B) they have unknown value 
C) their value is included in final goods so they are not added to avoid the problem of double counting 
D) none of the above

Question 8

What does the term Gross investment mean while denoting a nation's economy?

Accepted Answer

A) Gross investment= Net investment + Depreciation 
B) Gross investment= Net investment - Depreciation 
C) Gross investment= Depreciation - Net investment 
D) None of the above 
A) Gross investment= Net investment + Depreciation 
B) Gross investment= Net investment - Depreciation 
C) Gross investment= Depreciation - Net investment 
D) None of the above

Question 9

What do you mean by a mixed economy?

Accepted Answer

A) Modern and traditional industries 
B) Public and private sectors 
C) Foreign and domestic investments 
D) Commercial and subsistence farming 
A) Modern and traditional industries 
B) Public and private sectors 
C) Foreign and domestic investments 
D) Commercial and subsistence farming

Question 10

What does the term free-market denote in terms of economy?

Accepted Answer

A) Minimal government intervention in trade and minimum regulations 
B) Maximum government intervention in trade and maximum regulations 
C) Means of production owned by the state 
D) None of the above 
A) Minimal government intervention in trade and minimum regulations 
B) Maximum government intervention in trade and maximum regulations 
C) Means of production owned by the state 
D) None of the above

Question 11

What are Capital goods?

Accepted Answer

A) Goods used for consumption in the production process 
B) Goods such as tools, machinery, etc which are used to create final consumer goods 
C) Goods and services that are consumed fully when purchased by the consumers 
D) None of the above 
A) Goods used for consumption in the production process 
B) Goods such as tools, machinery, etc which are used to create final consumer goods 
C) Goods and services that are consumed fully when purchased by the consumers 
D) None of the above

Question 12

_________ is the subject matter of Macroeconomics.

Accepted Answer

A) Growth theory 
B) Factory Pricing 
C) Market Structure 
D) Individual Incomes 
A) Growth theory 
B) Factory Pricing 
C) Market Structure 
D) Individual Incomes

Question 13

"Capitalism" refers to?

Accepted Answer

A) The use of market 
B) Government ownership of capital 
C) Private ownership of capital goods 
D) Private ownership of homes & cars 
A) The use of market 
B) Government ownership of capital 
C) Private ownership of capital goods 
D) Private ownership of homes & cars

Question 14

The value of NNP at consumer point is called the

Accepted Answer

A) NNP at factor cost 
B) NNP at market price 
C) GNP at market price 
D) GNP at factor cost 
A) NNP at factor cost 
B) NNP at market price 
C) GNP at market price 
D) GNP at factor cost

Question 15

Micro and Macro approaches are ________.

Accepted Answer

A) Competitive 
B) Alternative 
C) Substitutes 
D) Complementary 
A) Competitive 
B) Alternative 
C) Substitutes 
D) Complementary

Question 16

The value of NNP at production point is called

Accepted Answer

A) NNP at factor cost 
B) NNP at market price 
C) GNP at market price 
D) GNP at factor cost 
A) NNP at factor cost 
B) NNP at market price 
C) GNP at market price 
D) GNP at factor cost

Question 17

___________economics can study the problem of Inflation in the country.

Accepted Answer

A) Micro 
B) Macro 
C) Static 
D) Dynamic 
A) Micro 
B) Macro 
C) Static 
D) Dynamic

Question 18

When did the Great Depression hit the United States?

Accepted Answer

A) 2007 
B) 1929 
C) 1936 
D) 2001 
A) 2007 
B) 1929 
C) 1936 
D) 2001

Question 19

The credit of development of macroeconomic approach must go to ________.

Accepted Answer

A) Dr. Marshall 
B) Prof. Pigou 
C) Lord Keynes 
D) Mrs. Joan Robinson) 
A) Dr. Marshall 
B) Prof. Pigou 
C) Lord Keynes 
D) Mrs. Joan Robinson)

Question 20

Macroeconomics as a separate branch came to be studied after the contributions of which economist?

Accepted Answer

A) Adam Smith 
B) John Maynard Keynes 
C) F. Hayek 
D) Samuelson 
A) Adam Smith 
B) John Maynard Keynes 
C) F. Hayek 
D) Samuelson

Macroeconomics does not study _________.

The average income of a country is called

Macroeconomics is a study of economics that deals with which 4 major factors:

Consider the following statements and identify the right ones. i. While calculating GNP, income generated by foreigners in a country is taken into consideration ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account

Consider the following statements: 1) In a Capitalist economy there is private ownership of means of production 2) In a communist nation, the means of production are owned by the State 3) In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?

What are consumption goods?

Intermediate goods are not included to calculate the final output because:

What does the term Gross investment mean while denoting a nation's economy?

What do you mean by a mixed economy?

What does the term free-market denote in terms of economy?

What are Capital goods?

_________ is the subject matter of Macroeconomics.

"Capitalism" refers to?

The value of NNP at consumer point is called the

Micro and Macro approaches are ________.

The value of NNP at production point is called

___________economics can study the problem of Inflation in the country.

When did the Great Depression hit the United States?

The credit of development of macroeconomic approach must go to ________.

Macroeconomics as a separate branch came to be studied after the contributions of which economist?

Understanding National Income, GDP, and Economic Sectors in India

National Income and Final Goods

Money and Monetary Policy: Understanding the Characteristics and Functions of Currency and Government Securities

Money and Inflation

Macroeconomic Concepts and Theories

Economics and Public Finance

Understanding Public Finance and Business Cycles

Filters

Exam 1: Economics : Macroeconomics, Factors, Goods, and Indicators

Macroeconomics does not study _________.

The average income of a country is called

Macroeconomics is a study of economics that deals with which 4 major factors:

Consider the following statements and identify the right ones. i. While calculating GNP, income generated by foreigners in a country is taken into consideration ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account

Consider the following statements: 1) In a Capitalist economy there is private ownership of means of production 2) In a communist nation, the means of production are owned by the State 3) In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?

What are consumption goods?

Intermediate goods are not included to calculate the final output because:

What does the term Gross investment mean while denoting a nation's economy?

What do you mean by a mixed economy?

What does the term free-market denote in terms of economy?

What are Capital goods?

_________ is the subject matter of Macroeconomics.

"Capitalism" refers to?

The value of NNP at consumer point is called the

Micro and Macro approaches are ________.

The value of NNP at production point is called

___________economics can study the problem of Inflation in the country.

When did the Great Depression hit the United States?

The credit of development of macroeconomic approach must go to ________.

Macroeconomics as a separate branch came to be studied after the contributions of which economist?

Understanding National Income, GDP, and Economic Sectors in India

National Income and Final Goods

Money and Monetary Policy: Understanding the Characteristics and Functions of Currency and Government Securities

Money and Inflation

Macroeconomic Concepts and Theories

Economics and Public Finance

Understanding Public Finance and Business Cycles

Filters