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Economics M.C.Q (1 Marks)

Introduction · Rajasthan Board (RBSE) STD 12 Humanities & Commerce (Rajasthan - English Medium). 28 questions.

Questions

M.C.Q (1 Marks)

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28 questions · 1 auto-graded MCQ + 27 self-marked written.

MCQ 11 Mark
The name of the book written by Adam Smith is -
  • ✓
    An Inquiry into the Nature and Causes Of the wealth of nations
  • B
    Economic Consequences of the Peace
  • C
    The General Theory of employment , interest and money
  • D
    None of the above
Answer
Correct option: A.
An Inquiry into the Nature and Causes Of the wealth of nations
A
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Question 21 Mark
Withdrawal of income from circular flow of income, e.g. savings, is known as:
  1. Leakage.
  2. Injection.
  3. Credit.
  4. Finance.
Answer
  1. Leakage.
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Question 31 Mark
Which variables are defined as any quantity measured at a particular point of time?
  1. Stock.
  2. Flow.
  3. Investment.
  4. Inventory.
Answer
  1. Stock.
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Question 41 Mark
Which of the following sector is engaged in consumption of goods and services and also provide factor services?
  1. Household sector.
  2. Production.
  3. Government sector.
  4. Rest of the World.
Answer
  1. Household sector.
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Question 51 Mark
Which of the following is not an example of depreciation?
  1. A plant producing rubber shoes becomes obsolete when demand shift from rubber shoes to leather shoes.
  2. A plant producing black and white televisions becomes obsolete when technology is discovered to produce colour televeisions.
  3. Fall in the market value of the assets during the period of economic recession.
  4. Fall in the value of your school building.
Answer
  1. Fall in the market value of the assets during the period of economic recession.
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Question 61 Mark
Which of the following is a Macroeconomic study?
  1. Government budget and economy.
  2. Price determination of a commodity.
  3. Producer's equilibrium.
  4. Consumer's equilibrium.
Answer
  1. Government budget and economy.
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Question 71 Mark
Which of the following are studied in Macroeconomics?
  1. National income.
  2. Price determination of a commodity.
  3. Behavior of firms.
  4. Activities of individual units.
Answer
  1. National income.
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Question 81 Mark
Which is not a characteristic of a service?
  1. Intangibility.
  2. Variability.
  3. Inseparability.
  4. Imperishability.
Answer
  1. Imperishability.
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Question 91 Mark
Which is/ are the main problem(s) addressed in macroeconomics?
  1. Determination of output of a firm.
  2. Determination of price of a product.
  3. Determination of income and employment level in the economy.
  4. All of the above.
Answer
  1. Determination of income and employment level in the economy.
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Question 101 Mark
Which concept is known as the study of aggregates?
  1. Microeconomics.
  2. Macroeconomics.
  3. Market demand.
  4. Aggregate demand.
Answer
  1. Macroeconomics.
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Question 111 Mark
When households and firms borrow from the financial market, they constitute ______.
  1. Leakage.
  2. Flow.
  3. Injection.
  4. None of these.
Answer
  1. Injection.

Explanation:

When households and firms borrow from the financial market, they constitute injection.

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Question 121 Mark
What is the time period of the Great Depression?
  1. From 1921 to 1925
  2. From 1941 to 1951
  3. From 1929 to 1933
  4. None of these.
Answer
  1. From 1929 to 1933
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Question 131 Mark
The study of macroeconomics deals with which of the following questions of an economy?
  1. Will prices as a whole rise or come down?
  2. Is the employment condition of country getting better or is it worsening?
  3. What steps can the government take to improve condition of the economy?
Codes:
  1. Both I and II
  2. Both II and III
  3. Only II
  4. All of these.
Answer
  1. All of these.
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Question 141 Mark
The process of adding to physical stock of capital is known as:
  1. Investment.
  2. Savings.
  3. Capital formation.
  4. Both (a) and (c).
Answer
  1. Both (a) and (c).
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Question 151 Mark
The individuals or institutions which take decisions regarding consumption, production, budget, taxation, policy, etc are known as:
  1. Producers.
  2. Consumers.
  3. Government.
  4. All of these.
Answer
  1. All of these.
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Question 161 Mark
The goods which are ready to be used by the producers, are called ______.
  1. Final goods.
  2. Consumer goods.
  3. Producer goods.
  4. Both (a) and (c).
Answer
  1. Both (a) and (c).

Explanation:

The goods which are ready to be used by the producers, are called both (a) and (c).

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Question 171 Mark
The goods used by manufacturer like tools, equipment and plant, etc are known as:
  1. Manufactured goods.
  2. Intermediate goods.
  3. Final producer goods.
  4. All of the above.
Answer
  1. Final producer goods.
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Question 181 Mark
_______ of the goods is the principle basis of classifying the goods into intermediate and final goods.
  1. Production.
  2. Consumption.
  3. End-use.
  4. Expenditure.
Answer
  1. End-use.

Explanation:

End-use of the goods is the principle basis of classifying the goods into intermediate and final goods.

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Question 191 Mark
_______ refers to the flow of money across different sectors of the economy.
  1. Real flow.
  2. Circular flow.
  3. Money flow.
  4. Both (a) and (c).
Answer
  1. Money flow.

Explanation:

Money flow refers to the flow of money across different sectors of the economy.

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Question 201 Mark
______ capital formation leads to lower rate of GDP growth.
  1. Lower.
  2. Constant.
  3. Higher.
  4. None of these.
Answer
  1. Lower.

Explanation:

Lower capital formation leads to lower rate of GDP growth.

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Question 211 Mark
Macroeconomics is also called ______ economics.
  1. Experimental.
  2. Applied.
  3. Aggregated.
  4. Individual.
Answer
  1. Aggregated.

Explanation:

Macroeconomics is also called aggregated economics.

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Question 221 Mark
_______ is a fund created by the producers to meet the upcoming depreciation losses in the process of production.
  1. Capital reserve fund.
  2. Depreciation reserve fund.
  3. Share reserve fund.
  4. None of the above.
Answer
  1. Depreciation reserve fund.

Explanation:

Depreciation reserve fund is a fund created by the producers to meet the upcoming depreciation losses in the process of production.

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Question 231 Mark
_______ is addition to the stock of fixed assets of producers during an accounting year.
  1. Current investment.
  2. Fixed investment.
  3. Inventory investment.
  4. Gross investment.
Answer
  1. Fixed investment.

Explanation:

Fixed investment is addition to the stock of fixed assets of producers during an accounting year.

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Question 241 Mark
In a circular flow of income, ______ acts as intermediate between household and firms to facilitate savings and borrowings.
  1. Financial market.
  2. Goods market.
  3. Gold market.
  4. All of these.
Answer
  1. Financial market.

Explanation:

In a circular flow of income, financial market acts as intermediate between household and firms to facilitate savings and borrowings.

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Question 251 Mark
In 1936, macroeconomics become a separate branch of economics after a book published by:
  1. Adam Smith.
  2. J.B. Say.
  3. John Maynard Keynes.
  4. Alfred Marshall.
Answer
  1. John Maynard Keynes.
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Question 261 Mark
Gross Investment = Net Investment + ______.
  1. Net Indirect Tax.
  2. Reserve.
  3. Depreciation.
  4. None of these.
Answer
  1. Depreciation.

Explanation:

Gross Investment = Net Investment + Depreciation.

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Question 271 Mark
Circular flow in two sector economy includes:
  1. Product market.
  2. Factor market.
  3. Gold market.
  4. Both (a) and (b).
Answer
  1. Both (a) and (b).
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Question 281 Mark
Building, plant and machinery are capital goods. In the light of this statement, following are the characteristics of capital goods excluding:
  1. They are of high value.
  2. They are the assets of the company.
  3. They are used for less than one year.
  4. They are used in production process.
Answer
  1. They are used for less than one year.
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