9 MCQ on macroeconomics - Commerce

Needed a Test for microeconomics?

Related: Economics for Class 12 (XII) - CBSE and NCERT Curriculum

Ref: https://edurev.in/question/761644/Needed-a-Test-for-microeconomics-Related-Economics-for-Class-12-XII-CBSE-and-NCERT-Curriculum

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Questions and Answers

1.
Diffrence between Real and Nominal GDP is
- A.
  Measured by excluding some of the sectors
- B.
  That real GDP is always smaller than Nominal GDP
- C.
  Change in price level from base year to current year
- D.
  None of the above.
2.
GDP is market value of all the final goods
- A.
  Produced domestically
- B.
  Produced by domestic factors of production
- C.
  Produced by all factors of production
- D.
  All of the above
3.
When comparing nation's economic position with other one should see its
- A.
  GDP
- B.
  Per Capita GDP
- C.
  Currency in circulation
- D.
  None of the above
4.
Verticle intercept of consumption function indicates
- A.
  Average propensity to consume
- B.
  Consumption at zero level of income
- C.
  Both of the above
- D.
  None of the above
5.
In consumption function c=a by
- A.
  B is intercept
- B.
  Slope of the function
- C.
  MPC
- D.
  A & C
6.
In Keynesian Framework Income is measured along
- A.
  45 degree line
- B.
  Verticle axis
- C.
  Horizontal axis
- D.
  All are correct
7.
If investment is exogenous to the Income determination model it can be shown as
- A.
  Verticle line
- B.
  Horizontal line
- C.
  All of the above
- D.
  None of the above
8.
In closed economy GDP equals
- A.
  C I X-N
- B.
  C I
- C.
  C I G
- D.
  All of the above
9.
In the model Y=C I G and C=a by Where b=0.8 , the expenditure multplier is
- A.
  1
- B.
  4
- C.
  5
- D.
  None of the above

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