CBSE 12TH ECONOMICS - Online Test
Q1. The study of general price level is a macroeconomic study. This statement is
Answer : Option D
Explaination / Solution:
Macro economics is concerned with variables as the aggregate volume of output of an economy, with extent to which resources are employed, with the size of national income and with general price level.
Q2. A supply schedule is best defined as
Answer : Option A
Explaination / Solution:
No Explaination.
Q3. One of the type of deposit accounts with the commercial banks is
Answer : Option B
Explaination / Solution:
No Explaination.
Q4. When a firm’s TR>TC, it earns normal profit and abnormal profits
Answer : Option B
Explaination / Solution:
No Explaination.
Q5. If income is Rs 1000 and consumption expenditure is Rs 1200, APS will be
Answer : Option B
Explaination / Solution:
No Explaination.
Q6. Disinvestment is a
Answer : Option D
Explaination / Solution:
No Explaination.
Q7. What must be added to domestic factor income to obtain national income?
Answer : Option D
Explaination / Solution:
No Explaination.
Q8. Which of the following curve has a negative slope and cannot interest each other?
Answer : Option C
Explaination / Solution:
No Explaination.
Q9. A deficit in BOP occurs
Answer : Option B
Explaination / Solution:
Balance of payments includes all external visible and non-visible transactions of a country. If a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counterbalanced in other ways – such as by funds earned from its foreign investments, by running down currency reserves or by receiving loans from other countries.
Q10. Which central problem explains ‘who gets more and who gets less’?
Answer : Option D
Explaination / Solution:
This problem refers to selection of the category of people who will ultimately consume the goods, i.e. whether to produce goods for more poor and less rich or more rich and less poor. Since resources are scarce in every economy, no society can satisfy all the wants of its people. Thus, a problem of choice arises.
