[ Best 25+ ] Macro Economics Concepts MCQ

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Macro Economics Concepts MCQ

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Macro Economics Concepts MCQ

Macro Economics Concepts MCQ

1. Macroeconomics as a separate branch came to be studied after the contributions of which
economist?

A. Adam Smith

B. John Maynard Keynes

C. F. Hayek

D. Samuelson

2. When did the Great Depression hit the United States?

A. 2007

B. 1929

C. 1936

D. 2001

3. Consider the following statements:
1. In a Capitalist economy there is private ownership of means of production 2. In a communist nation, the means of production are owned by the State 3. In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?

A. Only 1 and 3

B. Only 2 and 3

C. Only 3

D. All are true

4. Macroeconomics is a study of economics that deals with which 4 major factors:

A. households, firms, government, and demand-supply

B. households, firms, government and external sector

C. firms, government, free-market, and regulations

D. none of the above

5. What are consumption goods?

A. Goods used for consumption in the production process

B. Goods such as tools, machinery, etc which are used to create final consumption goods

C. Goods and services that are consumed fully when purchased by the consumers

D. None of the above

6. What are Capital goods?

A. Goods used for consumption in the production process

B. Goods such as tools, machinery, etc which are used to create final consumer goods

C. Goods and services that are consumed fully when purchased by the consumers

D. None of the above

7. Intermediate goods are not included to calculate the final output because:

A. they do not have value

B. they have unknown value

C. their value is included in final goods so they are not added to avoid the problem of double counting

D. none of the above

8. What does the term Gross investment mean while denoting a nation’s economy?

A. Gross investment= Net investment + Depreciation

B. Gross investment= Net investment – Depreciation

C. Gross investment= Depreciation – Net investment

D. None of the above

9. What does the term free-market denote in terms of economy?

A. Minimal government intervention in trade and minimum regulations

B. Maximum government intervention in trade and maximum regulations

C. Means of production owned by the state

D. None of the above

10. ___________economics can study the problem of Inflation in the country.

A. Micro

B. Macro

C. Static

D. Dynamic

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