The short run fixed price analysis of the product market - class-XII
Description: the short run fixed price analysis of the product market | |
Number of Questions: 67 | |
Created by: Ashok Dhingra | |
Tags: determinants of aggregates unemployment concept of excess demand and deficient demand macro economic analysis determination of income and employment employment: growth, informalisation and other issues distribution analysis income-output determination income determination economics theories of distribution producer behaviour and supply government budget and the economy theory of income and employment |
Equilibrium beyond the full employment level does not lead to rise in output level.
According to Keynes, the equilibrium level of income is always determined corresponding to full employment level.
In determination of Equilibrium Level of Income by AD-AS approach, AD curve is represented by ____________.
The two approaches to determination of the equilibrium level of income are:
When aggregate supply exceeds aggregate demand or when investment is less than savings, _____________ will decrease.
When aggregate demand exceeds aggregate supply or when investment is greater than savings, _____________ will increase.
______________ propounded the Liquidity Preference Theory of Interest.
_______________ means the preference of the people to hold wealth in the form of liquid cash rather than in other non-liquid assets like bonds, securities, bills of exchange, land, building, gold etc.
Government expenditure is undertaken for ___________.
Import and export are the two sides of ____________.
The ___________ net earning from foreign trade is added to the national income of the country.
When a country's export is higher than the imports, the net earning from trade is ___________.
When the net earning from foreign trade is zero, it largely impacts the national income.
Net earnings from foreign transactions is symbolically expressed as _____________.
Government expenditure is a component of the ____________ in the economy
The income received by a country through exports, in the form of _____________, can be utilized by the country to import required goods and services.
Match the following:
List - I(Type of Unemployment) | List - II(Associated Fact) |
---|---|
A. Frictional Unemployment | 1. Non-availability of job |
B. Structural Unemployment | 2. Marginal productivity is zero |
C. Seasonal Unemployment | 3. Use of obsolete technology for production |
D. Disguised Unemployment | 4. Population pressure on land |
Sir Charles Wood's Despatch on Educational reform led to the establishment of first three universities in India.they were established during the year _____________.
Frictional unemployment is consistent with full employment.
Frictional unemployment rate of ________ is consistent with full employment level, as per the experience of developed countries.
When the aggregate spending is not sufficient to produce that level of output which requires full employment of the available resources, it results in ______________.
The equilibrium below full employment level is termed as _____________.
_____________ may be defined as the situation when all those persons who are willing to work at the prevailing wage rate are getting work and are employed.
Excessive aggregate spending leads to full employment level of output accompanied with ____________.
Unemployment prevailing in Indian farms is _______.
Fill in the blanks from the alternatives given in the brackets.
Post graduate working as a peon is called ______.
When due to introduction of new machinery, some workers tend to be replaced by machines, it is termed as ____________ unemployment.
Aggregate Supply and __________ are always equal.
The gap by which actual aggregate demand exceeds the aggregate supply required to establish full employment equilibrium is known as ______.
Effective demand is determined at the point of equality between aggregate demand and aggregate supply.
If aggregate demand exceeds aggregate supply, the income rises.
Which among the following determinants of aggregate supply are held to be constant in the short run?
Which among the following determinants of aggregate supply is held to be variable in the short run?
Aggregate supply refers to the total value of output of goods and services produced in an economy in a year.
_____________ refers to the minimum amount of sales proceeds which entrepreneurs expect to receive from the sale of output at any given point level of employment.
Natural resources, also termed as land in economics, include all those natural gifts which are on the surface, below the surface and above the surface of the earth.
The aggregate supply and employment in the economy depends upon the stock of __________, its quality and use.
The productive efficiency of labour and capital increases with the use of __________.
_____ refers to that period in which supply of a commodity cannot be increased beyond its existing stock even if the demand has increased.
Deficiency in demand has no effect on the country's output and prices.
Increase in margin requirements helps to control the situation of deficient demand.
If planned investment falls short of planned saving, then stock of goods tend to pile up.
When aggregate demand is greater than aggregate supply, inventories:
If net income from abroad is negative it means value of exports is less than value of imports.
Aggregate demand in an economy is measured in terms of the total expenditure on goods and services.
_______________ is the minimum amount of money, which all the entrepreneurs in the economy must receive from the sale of output produced by them, at any given level of employment.
Aggregate demand function represents a ________ relationship between the level of output and employment and the aggregate demand price.
Aggregate demand function is represented by a downward sloping curve.
Aggregate supply curve becomes a ____________, after the full employment level has been achieved in the economy.
The aggregate demand curve intercepts on the _________.
_____________ refers to what the households and firms are expected to spend on the purchase of different goods and services in the economy.
The aggregate supply function starts from the origin.
Aggregate supply function is a ___________ curve.
Aggregate supply function becomes parallel to the Y-axis, after the full employment level has been achieved in the economy.
Which of the following is a correct statement?
Aggregate supply is a function of the level of employment in the short run.
Public expenditure includes expenditure on social goods.
The aggregate demand determines the flow of total expenditure.
Saving increases with increase in income.
Changes in level of income and employment can be brought by changing aggregate demand.
In the short run, land, capital, technology remain constant.
Inventory investment refers to investment in fixed capital assets.
Autonomous consumption can be zero.
Autonomous consumption expenditure cannot be zero.
For open economy aggregate demand is equal to Consumption + Investment + Government expenditure.
Equilibrium price and quantity is determined by ___________.
Sweezy's model does not explain ______________.