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Class 12 Introduction to Macroeconomics worksheet

CBSE Social Science. Aggregates, the Great Depression and Keynes, factors of production and their rewards, the four sectors and the unemployment rate. Every sheet has 20 questions in three sections and an answer key, and the numbers change every time.

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Sample questions

Real questions from this chapter, as the app sets them. Tap Answer to see the answer and working.

Section A · multiple choice

1.
Macroeconomics emerged as a separate subject in the 1930s mainly due to the work of:
1. Alfred Marshall
2. David Ricardo
3. Adam Smith
4. J. M. Keynes
Answer
(d) J. M. Keynes
2.
The income earned from a teacher’s work in a school is called:
1. wages
2. transfer payments
3. taxes
4. profit
Answer
(a) wages
3.
Which sector of the macroeconomy does this belong to: buying machines to expand a factory?
1. the banking sector
2. households
3. firms
4. the farm sector
Answer
(c) firms

Section B · short answer

4.
How does macroeconomics differ from microeconomics?
Answer
Macroeconomics studies aggregates like total output, employment and the price level; microeconomics studies individual markets and agents.
5.
Name the reward for each: (a) organising a business as an entrepreneur (b) starting a firm and bearing its risks
Answer
(a) profit (b) profit

Section C · long answer

6.
Explain why macroeconomics emerged as a separate subject.
Answer
The Great Depression showed long mass unemployment that micro theory could not explain; Keynes’s 1936 book studied the economy as a whole.

Fresh sheets for your child

In the app, every Introduction to Macroeconomics sheet is new: the app remembers the questions your child has already had and leaves them out. Print the sheet as a PDF, or use notebook mode and write the answers in a notebook.

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