Samacheer Kalvi 12th Economics – Chapter 3: Theories of Employment and Income Book Back Answers
Samacheer Kalvi 12th Standard New Economics Book Back 1 Mark and 2 Mark Questions with Answers PDF uploaded and available below. Tamil Nadu Class 12 New Syllabus Economics Chapter 3 – Theories of Employment and Income Book Back Solutions 2023 available for English medium students. TN Samacheer Kalvi 12th Std Economics Book Portion consists of 12 chapters. Check chapter-wise and Full Class 12th Economics Book Back Answers Solutions Guide 2023 PDF format for free download. 12th Economics Chapter 3 – Theories of Employment and Income Book Back Answers below:
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12th Samacheer Kalvi Economics Book Back Answers PDF:
English Medium 12th Samacheer Kalvi Economics Book Subject One Mark, Two Mark Guide questions and answers are available below. Take the printout and use it for exam purposes.
12th Economics
Chapter 3: Theories of Employment and Income
1. Every able-bodied person who is willing to work at the prevailing wage rate is employed called……….
(a) Full employment (b) Underemployment (c) Unemployment (d) Employment opportunity
2. Structural unemployment is a feature in a ………..
(a) Static society (b) Socialist society (c) Dynamic society (d) Mixed economy
3. In disguised unemployment, the marginal productivity of labor is …..
(a) Zero (b) One (c) Two (d) Positive
4. The main contention of the Classical Economic Theory is ……..
(a) Underemployment (b) Economy is always in the state of equilibrium (c) Demand creates its supply
(d) Imperfect competition
5. J.B. Say is a …………………….
(a) Neo-Classical Economist (b) Classical Economist (c) Modern Economist (d) New Economist
6. According to Keynes, which type of unemployment prevails in a capitalist economy?
(a) Full employment (b) Voluntary unemployment (c) Involuntary unemployment (d) Underemployment
7. The core of the classical theory of employment is …………
(a) Law of Diminishing Return (b) Law of Demand (c) Law of Markets (d) Law of Consumption
8. Keynes attributes unemployment to …………..
(a) A lack of effective supply (b) A lock of effective demand (c) A lack of both (d) None of the above
9. ………. Flexibility brings equality between saving and investment.
(a) Demand (b) Supply (c) Capital d) Interest
10. …………… theory is a turning point in the development of modern economic theory.
(a) Keynes’ (b) Say’s (c) Classical (d) Employment
11. The basic concept used in Keynes’s Theory of Employment and Income is…………….
(a) Aggregate demand (b)Aggregate supply (c) Effective demand (d) Marginal Propensity Consume
12. The component of aggregate demand is ………….
(a) Personal demand (b) Government expenditure (c) Only export (d) Only import
13. Aggregate supply is equal to ………….
(a) C + I + G (b) C + S + G + (x-m) (c) C + S + T + (x-m) (d) C + S + T + Rf
14. Keynes’s theory pursues to replace laissez-faire by …………
(a) No government intervention (b) Maximum intervention (c) State intervention in certain situations
(d) Private sector intervention
15. In Keynes’s 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.
16. Classical theory advocates ……
(a) Balanced budget (b) Unbalanced budget (c) Surplus budget (d) Deficit budget
17. Keynes’s theory emphasized…… equilibrium.
(a) Very short run (b) Short-run (c) Very long run (d) Long run
18. According to classical theory, the rate of interest is a reward for ……
(a) Investment (b) Demand (c) Capital (d) Saving
19. In Keynes’s theory, the demand for and supply of money is determined by…
(a) Rate of interest (b) Effective demand (c) Aggregate demand (d) Aggregate supply
20. Say’s law stressed the operation of …………. in the economy.
(a) Induced price mechanism (b) Automatic price mechanism (c) Induced demand (d) Induced investment
Other Important Links for 12th Samacheer Kalvi Book Back:
For Chapter 4 Consumption and Investment Functions Book Back Click Here – Chapter 4 Consumption and Investment Functions Book Back
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