MCQ Economics Class 12 Chapter 1 Introduction Advertisement MacroeconomicsMCQ’s For All Chapters – Macroeconomics Class 12th 1. What does macroeconomics primarily study?Individual consumers onlyIndividual firms onlyThe economy as a wholeA single market onlyQuestion 1 of 202. What does the term “micro” mean in microeconomics?LargeSmallNationalGlobalQuestion 2 of 203. Which of the following is a broad economic question studied in macroeconomics?What combination of goods should one consumer buy?How can one firm reduce its costs?Whether the overall price level is rising or fallingHow one seller sets the price of a productQuestion 3 of 204. When output of food grains rises, what does the chapter say generally happens to industrial output?It always fallsIt generally risesIt remains unchangedIt becomes zeroQuestion 4 of 205. What does a representative good represent?Only agricultural goodsOnly industrial goodsAll goods and services produced in an economyOnly imported goodsQuestion 5 of 206. Which of the following is NOT mentioned as an attribute related to total production and employment?PricesRate of interestWage ratesPopulation densityQuestion 6 of 207. During inflation, what generally happens to prices?They go down rapidlyThey remain fixedThey go upThey disappearQuestion 7 of 208. Which sectors are given as examples of distinct sectors of an economy?Agriculture and industryBanking and tourism onlyTransport and communication onlyEducation and defence onlyQuestion 8 of 209. Which three broad categories can represent all commodities in an economy?Food, clothing and housingAgricultural goods, industrial goods and servicesImports, exports and capitalLand, labour and capitalQuestion 9 of 2010. What do consumers try to maximise in microeconomics?Government revenuePersonal satisfaction or welfareNational outputExport earningsQuestion 10 of 2011. What do producers try to maximise?EmploymentGovernment spendingProfitImportsQuestion 11 of 2012. What does general equilibrium refer to in microeconomics?Equilibrium of supply and demand in each marketEquilibrium of only international marketsEquilibrium between government and householdsEquilibrium of wages onlyQuestion 12 of 2013. Who is regarded as the founding father of modern economics?John Maynard KeynesAdam SmithMankiwA.BhaduriQuestion 13 of 2014. Which book by Adam Smith is mentioned in the chapter?The General Theory of Employment, Interest and MoneyMacroeconomicsAn Enquiry into the Nature and Cause of the Wealth of NationsThe Economic Consequences of the PeaceQuestion 14 of 2015. Which of the following may be an economic agent?ConsumerProducerGovernmentAll of the aboveQuestion 15 of 2016. Which institution is mentioned as a macroeconomic decision-maker?Reserve Bank of IndiaA household onlyA single consumerA shopkeeperQuestion 16 of 2017. What is one major objective of macroeconomic decision-makers?Serving only private interestsWelfare of the country and its peopleMaximising one firm's profitIncreasing only household consumptionQuestion 17 of 2018. Which policy is mentioned as something macroeconomists study?Taxation policyPersonal shopping policyHousehold cooking policyIndividual travel policyQuestion 18 of 2019. In which year did John Maynard Keynes publish The General Theory of Employment, Interest and Money?1919192919361945Question 19 of 2020. When did macroeconomics emerge as a separate branch of economics?After 1936Before 1776During the 1700sAfter 2000Question 20 of 20 Loading...
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