Top 50+ Solved Basic concepts of Macro economics MCQ Questions Answer
Q. Who is credited with bringing the term "the invisible hand" in economics?
a. adam smith
b. john maynard keynes
c. f. hayek
d. samuelson
Q. Macroeconomics as a separate branch came to be studied after the contributions of whicheconomist?
a. adam smith
b. john maynard keynes
c. f. hayek
d. samuelson
Q. 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
Q. 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
Q. 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
Q. 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
Q. 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
Q. ___________economics can study the problem of Inflation in the country.
a. micro
b. macro
c. static
d. dynamic
Q. The credit of development of macroeconomic approach must go to ________.
a. dr. marshall
b. prof. pigou
c. lord keynes
d. mrs. joan robinson)
Q. Macroeconomics does not study _________.
a. whole economy
b. national income
c. aggregate supply
d. product pricing)
Q. _________ is the subject matter of Macroeconomics.
a. growth theory
b. factory pricing
c. market structure
d. individual incomes
Q. Micro and Macro approaches are ________.
a. competitive
b. alternative
c. substitutes
d. complementary
Q. For economists, statements about the world are of two types:
a. assumptions and theories
b. positive statements and negative statements
c. positive statements and normative statements
d. specific statements and general statements
Q. In a market economy:
a. households decide which firms to work for and what to buy with their incomes
b. profit and self-interest guide the decisions of firms and households
c. firms decide whom to hire and what to produced.
d. all of the above are true