CBSE Class 12 Macroeconomics Introduction

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What does Macroeconomics study according to the text?

Consumer price index

National income and aggregate employment (correct)

Individual consumer behavior

Microeconomic theory

Which term is used interchangeably with Macroeconomics according to the text?

Microeconomics

Consumer Behavior Theory

Income Theory (correct)

Employment Theory

What are the main instruments of Macroeconomics mentioned in the text?

Aggregate demand and supply (correct)

Price elasticity of demand

Supply and demand of individual goods

Perfect competition theory

Which sector is NOT part of the structure of a macro economy according to the text?

Industrial sector Signup and view all the answers

What does the 'Rest of the world sector' engage in according to the text?

Exports and imports Signup and view all the answers

Which sector in the macro economy is responsible for activities like taxation and subsidies?

Government sector Signup and view all the answers

In a simple economy with two sectors, what does the real flow of income refer to?

Flow of factor services from households to producers and goods from producers to households Signup and view all the answers

What is the relationship between producers and households in the context of the circular flow of income?

Producers supply goods and services, while households provide factors of production Signup and view all the answers

What is the primary function of money flow in the circular flow of income?

To transfer factor incomes from producers to households Signup and view all the answers

How do households contribute to the circular flow of income through the money flow?

By spending their incomes on goods and services produced by firms Signup and view all the answers

What assumption is made about consumer behavior in a simple two-sector economy?

Consumers spend all their income on consumption Signup and view all the answers

How do firms generate revenue in a simple two-sector economy?

By selling all produced goods and services to households Signup and view all the answers

CBSE Class 12 Macroeconomics Introduction

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Questions and Answers

What does Macroeconomics study according to the text?

Which term is used interchangeably with Macroeconomics according to the text?

What are the main instruments of Macroeconomics mentioned in the text?

Which sector is NOT part of the structure of a macro economy according to the text?

What does the 'Rest of the world sector' engage in according to the text?

Which sector in the macro economy is responsible for activities like taxation and subsidies?

In a simple economy with two sectors, what does the real flow of income refer to?

What is the relationship between producers and households in the context of the circular flow of income?

What is the primary function of money flow in the circular flow of income?

How do households contribute to the circular flow of income through the money flow?

What assumption is made about consumer behavior in a simple two-sector economy?

How do firms generate revenue in a simple two-sector economy?

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