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Economics Test ...

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  • Question 1
    5 / -1

    Read the following statements regarding National Income estimates and select the correct answer using codes given below :

    A. Capital gains and losses are included in National Income.

    B. Incomes from illegal activities are not included in National Income.

    C. Imputed values of the self occupied houses are included in the National Income.

  • Question 2
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    Choose the correct answer from the options given below:

  • Question 3
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    The expenditure made on education, training and health is called :

  • Question 4
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    Which of the following international organizations helps its member countries during the Balance of Payment Crisis?

  • Question 5
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    Which apex body was set up to coordinate the activities of all institutions involved in the rural financing system?

  • Question 6
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    Choose the correct answer from the options given below :

  • Question 7
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    Adoption of new technology is called _______.

  • Question 8
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    Investment in education, health, migration and information are the sources of :

  • Question 9
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    Directions For Questions

    Read the given passage and answer the questions :

    In the field of macroeconomics, the equilibrium output in an economy is determined by the interaction between aggregate demand (AD) and aggregate supply (AS). Aggregate demand refers to the total demand for final goods and services in the economy at a given price level, and it consists of consumption, investment, and government spending. The aggregate supply represents the total amount of goods and services that producers in an economy are willing and able to supply at different price levels. At the equilibrium point, aggregate demand equals aggregate supply, and there is no tendency for output to change unless affected by external factors like government policies or changes in consumer spending.

    ...view full instructions

    What does the equilibrium output in the economy represent?

  • Question 10
    5 / -1

    Directions For Questions

    Read the given passage and answer the questions :

    In the field of macroeconomics, the equilibrium output in an economy is determined by the interaction between aggregate demand (AD) and aggregate supply (AS). Aggregate demand refers to the total demand for final goods and services in the economy at a given price level, and it consists of consumption, investment, and government spending. The aggregate supply represents the total amount of goods and services that producers in an economy are willing and able to supply at different price levels. At the equilibrium point, aggregate demand equals aggregate supply, and there is no tendency for output to change unless affected by external factors like government policies or changes in consumer spending.

    ...view full instructions

    What factors influence aggregate demand in an economy?

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