Revise Smarter, Score Higher!

Master the basics of Class 12 Macroeconomics – Introduction & National Income with our MCQ-based Mock Test.
This test is carefully designed to help you:
Strengthen your conceptual clarity
Practice exam-relevant multiple-choice questions
Get instant insights into your preparation level

Take this mock test now and boost your confidence before stepping into the real exam hall!

1. Goods purchased for the following purpose are final goods:

 
 
 
 

2. Inventory is a __________ concept whereas the change in inventory is a __________ concept.

 
 
 
 

3. Foreign embassies in India are a part of India’s:

 
 
 
 

4. Statement 1: Market price is the difference between factor cost and net subsidies.

Statement 2: Depreciation is added to net investment to convert into gross investment.

 
 
 
 

5. Statement 1: Net investment is a stock concept.

Statement 2 : Capital is a flow concept.

 
 
 
 

6. Goods purchased for satisfaction of wants are:

 
 
 
 

7. Which of the following is a Macroeconomic study?

 
 
 
 

8. Read the following figure carefully and choose the correct pair from the alternatives given below:

 
 
 
 

9. Product method of calculating national income is also known as:

 
 
 
 

10. In which case net indirect taxes be equal to zero?

 
 
 
 

11. NI = Domestic Income, when:

 
 
 
 

12. Statement 1: Macroeconomics is a study of individual markets of demand and supply and the players or the decisionmaker seen as trying to maximise their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers).

Statement 2: Even a large company is ‘micro’ in the sense that it had to act in the interest of its own shareholders and not necessarily in the interest of the country as a whole.

 
 
 
 

13. ___________ are those goods which require further processing or must be resale in the same year.

 
 
 
 

14. The study of groups and broad aggregates of the economy is known as __________ .

 
 
 
 

15. Which of the following is not a factor payment?

 
 
 
 

16. Suppose, following data is presented for an imaginary economy:

Sr. No Particulars Amount ( in lakhs)
(i)

(ii)

(iii)

(iv)

(v)

 Depreciation

Domestic Sales

Change in Stocks

Exports

Single use producer goods

 20

200

(–) 10

10

120
 
 
 
 

17. Net National Product at Factor cost is called:

 
 
 
 

18. Flow of Goods and Services and factors of production across different sectors in a barter economy is known as:

 
 
 
 

19. Which of the following item will not be included while calculating national income
by the value added method?

 
 
 
 

20. In the production of sugar, sugarcane is a/an:

 
 
 
 

21. Which of the following leads to depreciation?

 
 
 
 

22. Which of the following item will not be included while calculating national income by income method?

 
 
 
 

23. Foreign embassies in India are a part of India’s:

 
 
 
 

24. Assertion (A): Machine purchased is always a final good.

Reason (R): Final goods directly satisfy the needs of consumers or investment on fixed assets.

 
 
 
 

25. Read the following figure carefully and choose the correct pair from the alternatives given below:

 
 
 
 

26. Choose the correct alternative to be filled in the given blank.

 
 
 
 

27. Statement 1: JM Keynes was a British economist.

Statement 2: JM Keynes was actively involved in international diplomacy during the years following the First World War.

 
 
 
 

28. Which of the following is/are economic agents?

 
 
 
 

29. Read the following figure carefully and choose the correct pair from the alternatives given below:

 
 
 
 

30. Which of the following item will not be included while calculating NDPMP?

 
 
 
 

Question 1 of 30