Q1.

Which of the following period relates to Great

Depression of India?
 1929 - 1933
 1935 - 1950
 1919 - 1925

 1942 - 1952

Q2. In which year, the British economist

John Maynard Keynes published his book?
Q2. In which year, the British economist
John Maynard Keynes published his book?
1926

1946

1936

1956

Q3. Which of the following does not come

under the scope of Macroeconomics?
 Theory of Household Income
 Theory of Money
 Theory of General Price Level
 Theory of National Income
 Q4. Which of the following is the study of
Macroeconomics?
 Study of steel industries
 Study of aggregates of an economy
 Study of small scale industries
 Study of cotton and jute industries

Q5. In a capitalist economy, which of the

following is referred as production units?
 State
 Firms
 Government
 Household sector

Q6. Which of the following is not a characteristic of the

economic activity of a capitalist economy?
 Private ownership of means of production
 Product produced for self consumption
 Product produced for sale in the market

 Sale and purchase of labour services at a price

 Q7. Who carried out the production activities in a capitalist
economy?
 Household sector
 Institution of state
 Capitalist enterprises

 External sector

Q8. In a capitalist economy, which of the following is

referred as production units?
 State
 Firms
 Government

 Household sector

Q9. Which of the following refers to the school of thought?

 Modern theory
 Neo classical theory
 Classical tradition

 Advanced classics

Q10. Which of the following refers to the investment

expenditure?
 Wages paid to labourers
 Purchase of new machineries
 Building factories

 Purchase of raw materials

Q11. Which of the following refers to the study of

aggregates?
 Macroeconomics
 Microeconomics
 Fiscal economics
 Managerial economics

Q12. What is the process of capital formation or increase in

the stock of capital for a firm?
 Consumption
 Domestic income
 Investment

 Foreign income

Q13. Which of the following refers to earnings on the

production of goods?
 Profit
 Money paid for services
 Revenue

 Investment expenditure

Q14. What is the consumption of goods and services in the

economy during a period of an accounting year?
 Aggregate investment
 Aggregate demand
 Aggregate consumption

 Aggregate supply

Q16. Which of the following problem was faced by world

during the period of great depression?
 Excess demand
 Lack of technology
 Deficient demand
 Inflation

Q17. Which of the following activity does not receive any

remuneration?
 Work in firms
 Domestic work
 Work in government departments
 Owner of the firms

Q18. Individuals or institutions who take economic decisions

are called
 Economic agents
 Real estate agents
 Secondary agents

 Primary agents

Q19. What did the people earn as workers in the firms?

 Salaries
 Profit
 Wages

 None of the above

Q20. Which of the following does not relate to trade with

external sector?
 Selling goods to the rest of the world
 Selling goods within the country
 Buying goods from the rest of the world

 None of the above

Q21. Which of the following is not a characteristic of the

economic activity of a capitalist economy?
 Private ownership of means of production
 Product produced for self consumption
 Product produced for sale in the market
 Sale and purchase of labour services at a price

Q22. What is the consumption of goods and services in the

economy during a period of an accounting year?
 Aggregate investment
 Aggregate demand
 Aggregate consumption

 Aggregate supply

Q23. Which of the following does not come under the scope
of Macroeconomics?
 Theory of Household Income
 Theory of Money
 Theory of General Price Level

 Theory of National Income

Q24. What is domestic income?

 The sum total of factor incomes generated from the foreign countries
 The sum total of factor incomes generated within the domestic territory of a
country
 The sum total of factor incomes spent within the domestic countries

 The sum total of factor incomes spent in the foreign countries