Macro Economics 1 Set 1

Bachelor of Arts in Economics (BA Economics)

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This set of Macro Economics 1 Multiple Choice Questions & Answers (MCQs) focuses on Macro Economics 1 Set 1

Q1 | The classical economists believed that the demand for labour is a function of:
Q2 | In classical theory of employment, there isthe possibility of:
Q3 | The idea that a general cut in wages will finally lead to a state of full employment wassuggested by :
Q4 | Say’s law of market says:
Q5 | The aggregate production function implied under classical theory is :
Q6 | In the Cambridge equation of M = kPR, the value of kis:
Q7 | As a result of an increase in capital, ceteris paribus, ------- the marginal productivity oflabour:
Q8 | In the Fisher’s extended equation of exchange MI VI represents:
Q9 | In Fisher’s transaction velocity model, one of the following is not an assumption:
Q10 | The cash balance equation M = KPO was given by:
Q11 | “Supply creates its own demand “is a law of:
Q12 | In the equation MV+ MI VI = PT, ‘M ‘denotes:
Q13 | I classical demand for money, the relationship between money supply and price level is:
Q14 | As per classical theory saving is:
Q15 | The Cambridge version of the quantity theory of money was developed by:
Q16 | In classical system which of the following keeps the economy at full employment:
Q17 | In Fisher’s equation of exchange MV=PT, the variation of which produces aproportional change in price:
Q18 | According to classical economists, variationsin savings are due to:
Q19 | In classical theory which of the following is found in the economy:
Q20 | In MV=PT, if M doubles and V and T remain constant, then P will:
Q21 | Pigou’s version of Cambridge equation is:
Q22 | The quantity theory of money was restated by:
Q23 | The law which states that supply creates its own demand and overproduction isimpossible is known as:
Q24 | Wages and prices do not adjust quickly to restore general equilibrium is a property of
Q25 | Classicals treated money as a:
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