Question
Define microeconomics.

Answer

Macroeconomics is the study of the behaviour of aggregates covering the entire economy such as national income, full employment, unemployment, aggregate consumption, aggregate demand, aggregate supply, general price level etc.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

Classify the into consumer, intermediate or capital goods.
Passenger bus service used by a consumer household.
Calculate National income or NNP at FC.
Particulars₹ in crores
(i) GDP at MP4,800
(ii) Indirect Taxes300
(iii) Net Factor income from abroad80
(iv) Consumption of Fixed Capital200
(v) Subsidies60
National Income = ₹ 4,440 Crores
Calculate the value of money multiplier and total deposit created if initial deposit is of ₹ 1,000 crore and LRR is 20%.
Explain the basis of classifying taxes into direct and indirect tax. Give examples.
It is given that MPC is 1/3rd of MPS, while consumption at zero level of income is given as ₹ 100 crore. Derive the consumption and saving functions. What does you suggest about this economy?
Giving reason explain how should the following be treated in estimation of national income:
  1. Expenditure by a firm on payment of fees to a chartered accountant.
  2. Payment of corporate tax by a firm.
  3. Purchase of refrigerator by a firm for own use.
Identify the components of money supply amongst the following:
  1. Coins and notes held by the public.
  2. Net demand deposits held by the commercial banks.
  3. Interbank deposits.
  4. Time deposits with the commercial banks.
If in an economy:
Change in initial Investments $(\triangle\text{I})=\text{₹ 500 crores}$
Marginal Propensity to Save (MPS) = 0.2
Find the values of the following:
  1. Investment multiplier (k)
  2. Change in final income $(\triangle\text{Y})$
Explain the meaning of deficit in the balance of payments.
What is excess demand? Explain any two fiscal measures to correct excess demand.