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12th Standard English Medium Economics Subject Theories of Employment and Income Book Back 1 Mark Questions with Solution Part - II

12th Standard

    Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 5

    1 Marks

    5 x 1 = 5
  1. Keynes theory pursues to replace laissez faire by ______.

    (a)

    No government intervention

    (b)

    Maximum intervention

    (c)

    State intervention in certain situation

    (d)

    Private sector intervention

  2. In Keynes theory of employment and income, ___________ is the basic cause of economic depression

    (a)

    Less production

    (b)

    More demand

    (c)

    Inelastic supply

    (d)

    Less aggregate demand in relation to productive capacity

  3. Classical theory advocates_______

    (a)

    Balanced budget

    (b)

    Unbalanced budget

    (c)

    Surplus budget

    (d)

    Deficit budget

  4. In Keynes theory , the demand for and supply of money are determined by ________

    (a)

    Rate of interest

    (b)

    Effective demand

    (c)

    Aggregate demand

    (d)

    Aggregate supply

  5. Say’s law stressed the operation of________ in the economy

    (a)

    Induced price mechanism

    (b)

    Automatic price mechanism

    (c)

    Induced demand

    (d)

    Induced investment

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