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ISC Class 12 Macroeconomics: Income, Budget & Banking — practice questions — page 3

Explore 70 free Macroeconomics: Income, Budget & Banking questions in ISC Class 12 Economics. Open each question or exercise to read its content, reference answers and available explanation.

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

Showing questions 61–70 of 70.

The economist whose work 'The Wealth of Nations' makes him widely regarded as the father of economics is:Read the answer and worked solution →Spot the odd one outRead the answer and worked solution →Spot the odd one outRead the answer and worked solution →Expenditure that neither creates assets nor reduces liabilities of the government is:Read the answer and worked solution →Economics is broadly studied under the two branches of:Read the answer and worked solution →Match the national income termRead the answer and worked solution →True or false about moneyRead the answer and worked solution →Gross National Product (GNP) equals GDP plus:Read the answer and worked solution →An economy that combines features of both market and government decision-making is a:Read the answer and worked solution →Micro or macro?Read the answer and worked solution →

Worked practice questions

The economist whose work 'The Wealth of Nations' makes him widely regarded as the father of economics is:

  1. Adam Smith
  2. John Maynard Keynes
  3. David Ricardo
  4. Alfred Marshall
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Correct answer: A. Adam Smith

Adam Smith's 'Wealth of Nations' earns him the title father of economics.

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Spot the odd one out

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Questions
  1. Items
    1. Consumer
    2. Producer
    3. Bank
    4. Inflation
    Odd item
    Inflation
  2. Items
    1. Inflation
    2. One shopkeeper
    3. Unemployment
    4. National output
    Odd item
    One shopkeeper
  3. Items
    1. Single market
    2. One buyer
    3. One seller
    4. Whole economy
    Odd item
    Whole economy
Instructions
Tap the one that does not belong with the rest.
_Source: syllabus Introductory Macroeconomics, Ch 1 'Introduction'_

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Spot the odd one out

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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'_

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