Top 150+ Solved Business Economics Macro MCQ Questions Answer
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. 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 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
Q. 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
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. The opportunity cost of going to university is:
a. The total spent on food, clothing, books, transportation, tuition, lodging and other expenses
b. Zero for students who are fortunate enough to have all of their university expenses paid by someone else
c. Zero, since a university education will allow a student to earn a higher income after graduation
d. The value of the best opportunity a student gives up to attend university
Q. Statistics such as GDP, the unemployment rate, the rate of inflation and the trade balance are:
a. Macro, since they tell us something about the entire economy
b. Neither macro nor micro, but properly in the realm of political science
c. Both micro and macro
d. Micro, since they affect individual households and firms
Q. What do you mean by a mixed economy?
a. Modern and traditional industries
b. Public and private sectors
c. Foreign and domestic investments
d. Commercial and subsistence farming