Economics Practice Quiz 117

Q1.Macroeconomics has deep roots in which branch of economics?

A. Microeconomics B. Econometrics C. Development economics D. Public finance

Q2.Which of the following is NOT listed as a macroeconomic policy goal for a developing country like India?

A. Remove or reduce unemployment B. Improve access to education and primary health care C. Maximize private profit of firms D. Provide for good administration

Q3.Which institution is mentioned as a statutory body that pursues macroeconomic policies?

A. Reserve Bank of India (RBI) B. State Bank of India (SBI) C. National Stock Exchange (NSE) D. Life Insurance Corporation (LIC)

Q4.What is the primary goal of macroeconomic decision-makers?

A. Maximizing private profit B. Serving individual self-interests C. Welfare of the country and its people as a whole D. Increasing market competition

Q5.Macroeconomic policies are pursued by which entities?

A. The State itself or statutory bodies B. Private corporations C. Individual consumers D. International organizations

Q6.What does the text say about the goals of macroeconomic agents compared to individual economic agents?

A. They are basically different B. They are the same C. They are complementary D. They are unrelated

Q7.In which year did John Maynard Keynes publish 'The General Theory of Employment, Interest and Money'?

A. 1929 B. 1936 C. 1919 D. 1945

Q8.What was the dominant school of economic thought before Keynes?

A. Keynesian tradition B. Classical tradition C. Monetarist tradition D. Marxist tradition

Q9.Between 1929 and 1933, what was the change in the unemployment rate in the USA?

A. From 3% to 25% B. From 10% to 33% C. From 5% to 20% D. From 1% to 15%

Q10.By what percentage did aggregate output in the USA fall between 1929 and 1933?

A. About 25% B. About 33% C. About 50% D. About 10%

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Economics Practice Quiz 117