Chapter 8 - Introduction To Macroeconomics Economics Solutions for Class 12 Commerce Economics

Chapter 8 - Introduction To Macroeconomics

Economics Solutions for Class 12 Commerce Economics

Fill in the blanks

Match the following

State the following statements are true or false.

1) Macroeconomics  is known as income analysis.

2) Increase in national income is a Micro- Economic goal.

3) Macro-Economic adopts lumping method.

4) Study of price determination is a subject matter of Macroeconomics.

5) Microeconomics deals with the study of aggregates.

6) National output is an example of a macro variable.

Define or Explain the following concepts

1) Macroeconomics

2) Macro variables

3) General equilibrium

Give reasons or explain the following statements

1) Macroeconomics is the study of aggregates.

2) Macroeconomics is also known as income and employment theory.

3) The scope of Macroeconomics is wide.

4) Macroeconomics deals with whole economy.

5) Macroeconomics is different from Microeconomics.

Distinguish between the following

Marco-Economics and Macroeconomics

Slicing method and Lumping method

Partial equilibrium and general equilibrium

Write short notes on

1) Features of Macro-Economics

2) Subject matter of Macroeconomics

3) Historical review of Macro-Economics

Answer the following questions

What is the scope and subject matter of Macroeconomics?

What are the features of Macro-Economics?

Do you agree with the following statements? Give reasons.

1) The scope of Macroeconomics is wide.

2) Macroeconomics deals with the study of individual behaviour.

3) Macroeconomics is individualistic.

4) Macroeconomics is different from Microeconomics.

5) Macro-Economics is a partial equilibrium analysis.

Answer in detail

State the features of Macro-Economics.

Explain the scope and subject matter of Macroeconomics.