Identify the other name for Macro Economics.

(a)

Price Theory

(b)

Income Theory

(c)

Market Theory

(d)

Micro Theory

Macro economics is a study of_________

(a)

individuals

(b)

firms

(c)

a nation

(d)

aggregates

Primary sector is ________

(a)

Industry

(b)

Trade

(c)

Agriculture

(d)

Construction.

J.B. Say is a _______.

(a)

Neo Classical Economist

(b)

Classical Economist

(c)

Modern Economist

(d)

New Economist

The average propensity to consume is measured by _____.

(a)

C/Y

(b)

CxY

(c)

Y/C

(d)

C+Y

Inflation means

(a)

Prices are rising

(b)

Prices are falling

(c)

Value of money is increasing

(d)

Prices are remaining the same

Bank credit refers to

(a)

Bank Loans

(b)

Advances

(c)

Bank loans and advances

(d)

Borrowings

Trade between two countries is known as ____ trade

(a)

External

(b)

Internal

(c)

Inter-regional

(d)

Home

Micro

(1)

Small

Red tapism and corruption

(2)

Transfer payments

NNP

(3)

Inefficiency of production

GNP

(4)

GNP - Depreciation allowance

ASF

(5)

Aggregate Supply Function

Define the term ‘Inflation'.

List out the assumptions of Say’s law.

Define Multiplier.

Define Commercial banks.

Define International trade.

Define Terms of Trade.

Define Common Market.

Distinguish between Capitalism and Globalism.

List out the uses of national income.

Write any five differences between classicism and Keynesianism.

Differentiate autonomous and induced investment.

What is money supply?

What are trade blocks?

Critically explain Say’s law of market.

Explain the functions of money

Discuss the differences between Internal Trade and International Trade.