Macro Economics MCQ
Macro Economics MCQ Meaning :- Macroeconomics is the branch of economics that deals with the structure, performance, behavior, and decision-making of the whole, or aggregate, economy. The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles.
1. The first National Income calculation on a scientific basis in India is in the year
A. 1947-48
B. 1951-52
C. 1931-32
D. 1990-91
Answer:- c
2. NNP means
A) GDP – depreciation
B. GDP + depreciation
C. NNP – depreciation
D. GNP – depreciation
Answer:- d
3. “Rest of the world” is the major element in
A. Two sector model
B. Three sector model
C. Four sector model
D. All the above
Answer .c
4. Cotton yarns purchased by handloom worker is
A. An intermediate good
B. A consumer good
C. A capital good
D. None of these
Answer:a
5. “ Inflation is always and everywhere a monetary phenomenon” these are the famous words of Milton Friedman B. Adam Smith C. David Ricardo D. J M Keynes When the rise prices is very slow like that of a snail is called
A. Hyper inflation
B. Running inflation
C. Creeping inflation
D. Walking inflation
Answer:a
6.The concept of “ laissez-faire” was the contribution of
A. Classical economist
B. Neo Classical economist
C. Keynesian economist
D. Supply side economist
Answer:c
7.“ Supply creates its own demand” is the idea of
A. JB Say
B. Samuelson
C) JM Keynes
D) Milton Friedman
Answer:a
8.Which of the following is not an assumption of classical theory
A Neutrality of money
B Wage price flexibility
C. Involuntary unemployment
D. Long run
Answer:a
10. Defects in SNA include
A. Neglects depletion of natural capital
B. Neglects environmental pollution
C. Expenditure to defend the effects of pollution
D. All of the above
Answer:d
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