This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Economics Macro Economics > Class 12 Economics (Macro Economics) Chapter 1 Introduction – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 4 (44 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Federal Open Market Committee A) Combines the Board of Governors and the 12 Reserve Banks. B) Contains approximately 8.039 commercial banks. C) Ensures safety deposits. D) None of the above. Show Answer Correct Answer: A) Combines the Board of Governors and the 12 Reserve Banks. 2. Which of these three economic system, applied in North Korea? A) Planned Economic System. B) Mixed Economic System. C) Traditional Economic System. D) Market Economic System. Show Answer Correct Answer: A) Planned Economic System. 3. ..... Is the value of the next best alternative in decision making A) Scarcity. B) Trade-off. C) Opportunity cost. D) None of the above. Show Answer Correct Answer: C) Opportunity cost. 4. Macro Economics is a study of ..... A) Single Good. B) Aggregates of the economy. C) Two or More Goods. D) Services Alone. Show Answer Correct Answer: B) Aggregates of the economy. 5. Pilihlah satu (1) pernyataan tidak tepat mengenai pengukur keberhasilan ekonomi Makro A) Pendapatan Nasional dan Pendapatan perkapita. B) Pertumbuhan ekonomi dan Neraca Pembayaran. C) Peningkatan Pengangguran dan Peningkatan Inflasi secara signifikan. D) Neraca pembayaran indonesia dalam perdagangan internasional. E) Penggunaan tenaga kerja dan pengangguran. Show Answer Correct Answer: C) Peningkatan Pengangguran dan Peningkatan Inflasi secara signifikan. 6. It helps the organization and management in determining the strong features of the optimal choice of action A) Capitalism. B) Sensitivity Analysis. C) Monopoly. D) Oligopoly. Show Answer Correct Answer: B) Sensitivity Analysis. 7. Which of the following statements is normative? A) People work harder if the wage is higher. B) A. Large government deficits cause an economy to grow more slowly. C) Printing too much money causes inflation. D) The unemployment rate should be lower. Show Answer Correct Answer: D) The unemployment rate should be lower. 8. PPC curve is generally ..... to the point of Origin. A) Concave. B) Convex. C) Neither Concave nor Convex. D) None. Show Answer Correct Answer: A) Concave. 9. It gives an overall view of the growing complexities of an economic system. It provides powerful tools to explain the working of the complex economic systems. A) Macro. B) Micro. C) Both. D) None. Show Answer Correct Answer: A) Macro. 10. In which type of economics we study the behavior of individual. A) Micro economics. B) Macro economics. C) Positive economics. D) Normative economics. Show Answer Correct Answer: A) Micro economics. 11. The fundamental economic problem being faced is A) Unlimited human wants. B) Limited wants and unlimited resources. C) Unlimited wants and scarcity of resources. D) Limited wants and limited resources. Show Answer Correct Answer: C) Unlimited wants and scarcity of resources. 12. Tax is Part of MICRO Economy. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 13. Main reason for PPC becoming concave to the origin is: A) Increasing M.O.C. B) Constant M.O.C. C) Decreasing M.O.C. D) Resources becoming equally efficient. Show Answer Correct Answer: A) Increasing M.O.C. 14. Kebijakan yang dapat menjaga pertumbuhan ekonomi tanpa dihantui kenaikan harga-harga (inflasi) adalah A) Menaikan tingkat bunga. B) Menaikan pajak. C) Menaikan belanja pemerintah. D) Menambah jumlah uang beredar. E) Menurunkan pajak penghasilan. Show Answer Correct Answer: C) Menaikan belanja pemerintah. 15. Which is NOT an example of an economic problem? A) Inflation. B) Unemployment. C) High number of corona cases in Bangalore. D) Poverty. Show Answer Correct Answer: C) High number of corona cases in Bangalore. 16. Which Economic analysis gives Suggestions? A) Positive Economic Analysis. B) Normative Economic Analysis. C) Both Positive and Normative Economic Analysis. D) None. Show Answer Correct Answer: B) Normative Economic Analysis. 17. Labour intensive Tequinique are chosen in a A) Developed economy. B) Developing economy. C) Labour surplus economy. D) Capital surplus economy. Show Answer Correct Answer: C) Labour surplus economy. 18. Macro Economics studies the problem of ..... A) Inflation. B) Deflation. C) Inflation and Deflation. D) None of these. Show Answer Correct Answer: C) Inflation and Deflation. 19. All resources are not equally scarce all the time. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 20. Macroeconomics focuses on all of the following except A) Unemployment prblm. B) Inflation in the economy. C) Aggregate demand. D) Jute industry. Show Answer Correct Answer: D) Jute industry. 21. What would be an example of a capital resource A) Business owner. B) Water. C) School building. D) Trees. Show Answer Correct Answer: C) School building. 22. Macroeconomics is also known as A) Theory of Income and Employment. B) Demand Theory. C) Supply theory. D) Cost Theory. Show Answer Correct Answer: A) Theory of Income and Employment. 23. The central problems arise in A) Capitalist economies. B) Socialist economies. C) All economies. D) Mixed economies. Show Answer Correct Answer: C) All economies. 24. Which of the following is an exmple of Service sector A) Doctor. B) Employee. C) Worker. D) All of these. Show Answer Correct Answer: A) Doctor. 25. ..... is the determinant to solve problems in macroeconomics. A) Price. B) Income. C) Demand. D) Supply. Show Answer Correct Answer: B) Income. 26. The branch of economics that deals with the allocation of resources A) Micro economics. B) Macro economics. C) Econometrics. D) None of these. Show Answer Correct Answer: A) Micro economics. 27. The study of macroeconomics includes A) Theory of employment. B) Theory of national income. C) Theory of money. D) All of these. Show Answer Correct Answer: D) All of these. 28. The word Economics is most closely connected with the word A) Restricted. B) Unlimited. C) Free. D) Scarcity. Show Answer Correct Answer: D) Scarcity. 29. What is a demand curve? A) A graph showing the relationship between the price of a good and the quantity supplied. B) A graph showing the relationship between the price of a good and its quality. C) A graph showing the relationship between the price of a good and the quantity demanded. D) A graph showing the relationship between the supply of a good and its demand. Show Answer Correct Answer: C) A graph showing the relationship between the price of a good and the quantity demanded. 30. Prices of Resources in Free Market Economy are determined by ..... A) Supply. B) Demand. C) Supply and Demand. D) Government. Show Answer Correct Answer: C) Supply and Demand. 31. Atif is working at a salary of Rs 35, 000 per month, He receives two job offers. To work as a sales manager with salary of Rs25, 000 per month, to work as an accountant at a salary Rs30, 000 per month. Find his opportunity Cost A) Rs 30, 000. B) Rs 35, 000. C) Rs 65, 000. D) Rs 25, 000. Show Answer Correct Answer: A) Rs 30, 000. 32. Which of the following is not a central problem of economy A) How to produce. B) For whom to produce. C) When to produce. D) What to produce. E) When to produce. Show Answer Correct Answer: C) When to produce. 33. Your garbage man is an example of A) Land. B) Labor. C) Entrepreneurs. D) Capital. Show Answer Correct Answer: B) Labor. 34. Virat Kohli is a good batsman as he has scored highest number of centuries in test cricket. The statement is ..... A) Positive. B) Normative. C) All the above. D) None of the above. Show Answer Correct Answer: A) Positive. 35. By directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Which famous economist most likely wrote this? A) Karl Marx. B) Adam Smith. C) John Maynard Keynes. D) Fredrich Hayek. Show Answer Correct Answer: B) Adam Smith. 36. The addition to cost associated with additional unit of output is A) Total cost. B) Marginal cost. C) Average cost. D) Variable cost. Show Answer Correct Answer: B) Marginal cost. 37. An investigation in economics concerned with it is rather than what ought to be? A) Positive Economics. B) Micro Economics. C) Normative Economics. D) Macro Economics. Show Answer Correct Answer: A) Positive Economics. 38. Example of stock A) Capital formation. B) Income. C) Wealth. D) Monetary expenditure. Show Answer Correct Answer: C) Wealth. 39. It studies the actions of individual consumers and firms A) Microeconomics. B) Macroeconomics. C) Consumer demand. D) Supply of goods. Show Answer Correct Answer: A) Microeconomics. 40. Circular flow is of ..... types A) 4. B) 2. C) 3. D) All of these. Show Answer Correct Answer: B) 2. 41. The problem of "what to produce" relates to: A) The choice of technique. B) Distribution of income. C) Market value of goods and services. D) The choice of goods and services. Show Answer Correct Answer: D) The choice of goods and services. 42. Secondary sector includes activities related to A) Services. B) Manufacturing. C) Construction. D) Both B and C. Show Answer Correct Answer: D) Both B and C. 43. Consumption function and investment function are the important aspect of which theory? A) Theory of distribution. B) Theory of growth and development. C) Theory of income and employment. D) Theory of Overall Economic Efficiency. Show Answer Correct Answer: C) Theory of income and employment. 44. Producers and consumers take economic decision by ..... principle. A) Principle of profit. B) Principle of revenue. C) Principle of marginalism. D) Principle of averages. Show Answer Correct Answer: C) Principle of marginalism. ← PreviousRelated QuizzesCommerce QuizzesClass 12 QuizzesClass 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 1Class 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 2Class 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 3Class 12 Economics (Macro Economics) Chapter 2 National Income Accounting QuizClass 12 Economics (Macro Economics) Chapter 3 Money And Banking QuizClass 12 Economics (Macro Economics) Chapter 4 Determination Of Income And Employment QuizClass 12 Economics (Macro Economics) Chapter 5 Government Budget And The Economy QuizClass 12 Economics (Macro Economics) Chapter 6 Open Economy Macroeconomics Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books