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MCQs - Determination Of Equi. level of Income, Output and Employment Notes | Study Crash Course of Macro Economics -Class 12 - Commerce

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Q.1 As per Keynesian Economics, the equilibrium level of income is determined at a level where
(a) Ex-ante savings = ex-ante investments
(b) Ex- post saving = ex-post investments

(c) Both (a) and (b)
(d) Neither (a) nor (b)
Ans: A

Q.2 
As per Keynesian Economics, the equilibrium level of income is determined at a level where
(a) Aggregate Demand is more than 450 line
(b) Aggregate demand is less than 450 line
(c) Aggregate Demand – curve intersects 450 line
(d) All of the above
Ans: C

Q.3 
In case of equilibrium below the full employment condition

(a) AS > AD & resources are fully utilized
(b) AD > AS & resources are not fully utilized

(c) AD = AS but resources area not fully utilized
(d) None of the above.
Ans: B

Q.4 Problem of unemployment is the problem of
(a) Voluntary unemployment
(b) Involuntary employment
(c) Involuntary unemployment
(d) One of the above
Ans: C

Q.5 
Fiscal policy is maintained by 

(a) NITI  Aayog
(b) Supreme Court of India
(c) Government of India
(d) Reserve Bank of India
Ans: C


Q.6 Since AS = C + S and AD = C + I , the equilibrium will be established where C + S = C + I, or where:
(a) S = I
(b) S > I
(c) S < I
(d) all of these
Ans: A

Q.7 
Equilibrium level of income/output and employment is viewed from which of the following approaches?

(a) AS = AD approach
(b) S = I approach
(c) Both (a) and (b)
(d) None
Ans: C

Q.8 Keynes discusses equilibrium level of output, using the concept of : 

(a) autonomous investment
(b) induced investment
(c) both (a) and (b)
(d) none of these
Ans: A

Q.9 --------- refers to actual saving in an economy during a year

(a) APS
(b) Ex-ante saving
(c) Ex-post saving
(d) MPS
Ans: C

Q.10 
According to Keynes, the main cause of unemployment is

(a) Lack of saving
(b) Lack of investment
(c) Deficiency in aggregate demand
(d) Deficiency in aggregate supply
Ans: C

Q.11 
Alternative approach to AD = AS approach is :

(a) C = 1
(b) C = S
(c) S = 1
(d) None of the above
Ans: C

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