Start learning →

AP Intermediate 2nd Year Macroeconomics: Income, Budget & Banking — practice questions — page 2

Explore 98 free Macroeconomics: Income, Budget & Banking questions in AP Intermediate 2nd Year Economics. Open each question or exercise to read its content, reference answers and available explanation.

Practise Macroeconomics: Income, Budget & Banking with Quill →

Macroeconomics: Income, Budget & Banking questions and exercises with answers

Showing questions 31–60 of 98.

Which function of money?Read the answer and worked solution →Spot the odd one outRead the answer and worked solution →Money and banking bingoRead the answer and worked solution →Direct or indirect tax?Read the answer and worked solution →Match the budget termRead the answer and worked solution →True or false about the budgetRead the answer and worked solution →Sort the budget itemsRead the answer and worked solution →Complete the deficit formulaRead the answer and worked solution →Name the taxRead the answer and worked solution →Spot the odd one outRead the answer and worked solution →Government budget bingoRead the answer and worked solution →Final or intermediate good?Read the answer and worked solution →Match the national income termRead the answer and worked solution →Tap the three methodsRead the answer and worked solution →True or false about national incomeRead the answer and worked solution →Complete the value added ruleRead the answer and worked solution →Final or intermediate?Read the answer and worked solution →National income numbersRead the answer and worked solution →National income bingoRead the answer and worked solution →Spot the odd one outRead the answer and worked solution →The value of output minus the value of intermediate consumption is called:Read the answer and worked solution →Net National Product (NNP) is obtained by subtracting ___ from GNP:Read the answer and worked solution →Market price equals factor cost plus indirect taxes minus:Read the answer and worked solution →In the expenditure method, national income is found by adding consumption, investment, government spending and:Read the answer and worked solution →The circular flow of income shows the flow of goods, services and money between:Read the answer and worked solution →True or false about national incomeRead the answer and worked solution →Final or intermediate?Read the answer and worked solution →The value of national income measured at the prices actually received by factors of production is the:Read the answer and worked solution →The fall in the value of fixed capital due to normal wear and tear is called:Read the answer and worked solution →Receipts that neither create a liability nor reduce the assets of the government are called:Read the answer and worked solution →

Worked practice questions

Which function of money?

Read exercise and reference answers
Questions
  1. Question
    Paying a shopkeeper with a note
    Choices
    1. Medium of exchange
    2. Store of value
    3. Unit of account
    Correct choice
    Medium of exchange
  2. Question
    Saving money for next year
    Choices
    1. Medium of exchange
    2. Store of value
    3. Unit of account
    Correct choice
    Store of value
  3. Question
    Quoting every price in rupees
    Choices
    1. Store of value
    2. Medium of exchange
    3. Unit of account
    Correct choice
    Unit of account
  4. Question
    Swapping rice for cloth directly
    Choices
    1. Barter
    2. Store of value
    3. Legal tender
    Correct choice
    Barter
Instructions
Tap the function of money each case shows.
_Source: syllabus Introductory Macroeconomics, Ch 3 'Money and Banking'_

Open this exercise →

Spot the odd one out

Read exercise and reference answers
Questions
  1. Items
    1. M1
    2. M2
    3. Barter
    4. M3
    Odd item
    Barter
  2. Items
    1. Central bank
    2. Currency issue
    3. Bank rate
    4. Gold jewellery
    Odd item
    Gold jewellery
  3. Items
    1. Notes
    2. Coins
    3. Demand deposits
    4. Bank rate
    Odd item
    Bank rate
Instructions
Tap the one that does not belong with the rest.
_Source: syllabus Introductory Macroeconomics, Ch 3 'Money and Banking'_

Open this exercise →

Money and banking bingo

Read exercise and reference answers
Clues and terms
  1. Clue
    The commonly accepted medium of exchange.
    Item
    Money
  2. Clue
    Exchange of goods without money in between.
    Item
    Barter
  3. Clue
    Function letting all values be compared.
    Item
    Unit account
  4. Clue
    Function letting wealth be carried forward.
    Item
    Store value
  5. Clue
    The one bank that issues a country's currency.
    Item
    Central bank
  6. Clue
    Money that cannot be refused in payment.
    Item
    Legal tender
  7. Clue
    Bank balance payable whenever asked for.
    Item
    Demand deposit
  8. Clue
    Name given to the measures M1 and M2.
    Item
    Narrow money
  9. Clue
    Name given to the measures M3 and M4.
    Item
    Broad money
Instructions
Read each clue and tap the term it describes.
_Source: syllabus Introductory Macroeconomics, Ch 3 'Money and Banking'_

Open this exercise →

How to practise

  1. Choose a Macroeconomics: Income, Budget & Banking question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

Put it into practice

Continue with Macroeconomics: Income, Budget & Banking practice for AP Intermediate 2nd Year. Read explanations as you go. No signup form needed to start.

Practise Macroeconomics: Income, Budget & Banking →

More Economics topics

Determination of Income and EmploymentOpen Economy MacroeconomicsIntroduction to MicroeconomicsIndian Economy & Economic DevelopmentGovernment Budget and the EconomyMoney and BankingNational Income AccountingUnit 6B: International Trade and Trade Barriers