CBSE Class 12 Economics Introduction To Macroeconomics Worksheet

I. Choose the correct alternative.

Question. What is known as the study of individual units?
(a) Macroeconomics
(b) Microeconomics
(c) Income and Employment Theory
(d) Development economics
Answer: (b)

Question. What is the main cause of all economic problems?
(a) Abundance
(b) Convenience
(c) Scarcity
(d) None of these
Answer: (c)

Question. Study of aggregates is known as _________
(a) Macroeconomics
(b) Microeconomics
(c) Price theory
(d) Factor price determination
Answer: (a)

Question. What is the name of the book written by J.M. Keynes?
(a) Wealth of Nation
(b) Political economy
(c) The General Theory of Employment, Interest and Money
(d) None of these
Answer: (c)

Question. When was the famous book of Prof. Keynes published?
(a) 1930
(b) 1931
(c) 1936
(d) 1940
Answer: (c)

Question. When did the great depression occur?
(a) 1929-30
(b) 1934-35
(c) 1938-39
(d) 1941-42
Answer: (a)

Question. Who is known as the father of modern macroeconomics?
(a) Adam Smith
(b) J.M.Keynes
(c) Samuelson
(d) Hicks
Answer: (b)

Question. Mr. Skund Kumar wants to study the national income. Which branch of economics will he have to study?
(a) Microeconomics
(b) Price theory
(c) Factor price determination
(d) Macroeconomics
Answer: (d)

II. Fill in the blanks with the correct answer.

Question. The mother of all economic problems is _________
Answer: scarcity

Question. Macroeconomics is defined as that branch of economics, which studies economic activities of an economy as a _______
Answer: whole

Question. _______ was the founding father of modern economics.
Answer: Adam Smith

Question. Keynes book on Income and Employment came into light in the year _________
Answer: 1936

Question. Aggregate Demand is the sum total of consumption and _________
Answer: investment

Question. The period of the great depression was from __________
Answer: 1929-33

III. State whether the following statements are true or false.

Question. Capital, land, labor, and entrepreneur are the factors of production.
Answer: True

Question. The expenses which raise productive capacity are known as investment expenditure.
Answer: True

Question. The domestic country may sell goods to the rest of the world. It is called imports.
Answer: False

Question. The domestic country may buy goods from the rest of the world. It is called exports.
Answer: False

Question. The capitalist economy works for social welfare.
Answer: False

Question. Microeconomics deals with the aggregate economic variable of an economy.
Answer: False

Question. ‘Save more’ is always a virtue.
Answer: False

IV. Match the following.

Question.

Column-I	Column-II
1. Worldwide Depression	(A) 1936
2. Publication year of Keynes’s book	(B) 1929-30
3. Problem of unemployment	(C) Microeconomics study
4. Study of the sugar industry	(D) J.M.Keynes
5. Father of Macroeconomics	(E) Ragnar Frisch
6. Who divided economics into two parts?	(F) Macroeconomics study

Answer:

Column-I	Column-II
1. Worldwide Depression	(B) 1929-30
2. Publication year of Keynes’s book	(A) 1936
3. Problem of unemployment	(F) Macroeconomics study
4. Study of the sugar industry	(C) Microeconomics study
5. Father of Macroeconomics	(D) J.M.Keynes
6. Who divided economics into two parts?	(E) Ragnar Frisch

 

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