Q 1 – What is known as the study of individual units?
(A) Macroeconomics
(B) Microeconomics
(C) Income and Employment Theory
(D) Development economics
Ans. (B) Microeconomics
Q 2 – What is the main cause of all economic problems?
(A) Abundance
(B) Convenience
(C) Scarcity
(D) None of these
Ans. (C) Scarcity
Q 3 – Study of aggregates is known as _________
(A) Macroeconomics
(B) Microeconomics
(C) Price theory
(D) Factor price determination
Ans. (A) Macroeconomics
Q 4 – What is the name of the book written by J.M. Keynes?
(A) Wealth of Nation
(B) Political economy
(C) The General Theory of Employment, Interest and Money
(D) None of these
Ans. (C) The General Theory of Employment, Interest and Money
Q 5 – When was the famous book of Prof. Keynes published?
(A) 1930
(B) 1931
(C) 1936
(D) 1940
Ans. (C) 1936
Q 6 – When did the great depression occur?
(A) 1929-30
(B) 1934-35
(C) 1938-39
(D) 1941-42
Ans. (A) 1929-30
Q 7 – Who is known as the father of modern macroeconomics?
(A) Adam Smith
(B) J.M.Keynes
(C) Samuelson
(D) Hicks
Ans. (B) J. M. Keynes
Q 8 – 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
Ans. (D) Macroeconomics
Q 9 – When did the great depression occur?
(a) 1929-30
(b) 1934-35
(c) 1938-39
(d) 1941-42
Ans. (a) 1929-30
Q 10 – When was the famous book of Prof. Keynes published?
(a) 1930
(b) 1931
(c) 1936
(d) 1940
Ans. (c) 1936
Q 11 – The formula for calculating simple multiplier is
(a) 1/1-MPC
(b) 1/MPC=MPS
(c) 1/1-MPS
(d) 1/MPC+MPS
Ans. (a) 1/1-MPC
Q 12 – 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
Ans. (c) Monetary policy
Q 13 – Who is known as the father of modern macroeconomics?
(a) Adam Smith
(b) J. M. Keynes
(c) Samuelson
(d) Hicks
Ans. (d) J. M. Keynes
Q 14 – Who is known as the father of modern macroeconomics?
(a) Adam Smith
(b) J. M. Keynes
(c) Samuelson
(d) Hicks
Ans. (b) J. M. Keynes
Q 15 – The formula for calculating investment multiplier is
(a) Δ Y/ ΔI
(b) ΔY+Δ I
(c) ΔI/ΔY
(d) Δ C+ ΔI
Ans. (a) Δ Y/ ΔI
Q 16 – Economy may be classified as:
(a) Capitalist
(b) Socialist
(c) Mixed
(d) All of these
Ans. (d) All of these
Q 17 – 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
Ans. (d) Macroeconomics
Q 18 – What is known as the study of individual units?
(a) Macroeconomics
(b) Microeconomics
(c) Income and Employment Theory
(d) Development economics
Ans. (b) Microeconomics
Q 19 – In Keynes consumption theory the chief factor that determines consumption expenditure is
(a) Personal income
(b) Relative income
(c) Permanent income
(d) Disposable income
Ans. (d) Disposable income
Q 20 – 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
Ans. (d) All of these