Macro

Introduction

Easy

The basic objective of macroeconomics is to develop theoretical tools. They are called........

National Income.

Components.

Models.

Aggregate.

✅ Correct Option: 3

Option 1 -> National Income is a measure/concept in macroeconomics, not what theoretical tools are called.

Option 2 -> Components refer to parts or elements of something, not theoretical tools.

Option 3 -> Models are simplified representations used as theoretical tools in macroeconomics.

Option 4 -> Aggregate refers to total or combined measures like aggregate demand, not theoretical tools.

Hence, Option 3: Models -> In macroeconomics, theoretical tools are called models. These are simplified frameworks or representations of economic reality that help economists analyze relationships between variables like inflation, unemployment, GDP, etc. Examples include the IS-LM model, AD-AS model, and Solow growth model. These models allow economists to make predictions and understand complex economic phenomena. -> correct

2025: 29 May Shift 1

Macroeconomics emerged as a separate subject in the year _________ due to Prof. J. M Keynes.

2026: 13 May Shift 2

Select the correct statements from the following in the context of macroeconomics.

(A) It deals with the aggregate economic variables.

(B) It has emerged as a separate subject in the 1930s.

(D) It mostly examines the functioning of the particular sector of the economy.

Choose the correct answer from the options given below:

2026: 13 May Shift 1

Which of the following is macroeconomics variable?

2025: 3 June Shift 2

Arrange the following events in chronological order according to time period.

(A) The Economic Consequences of the Peace.

(B) An Enquiry into the Nature and Cause of the Wealth of Nations.

(D) General Theory of Employment, Interest and Money.

Choose the correct answer from the options given below:

2025: 30 May Shift 2

The study of total output, employment and aggregate price level of an economy.

2026: 31 May Shift 1

Match the LIST-I with LIST-II

LIST-I		LIST-II
A. Output Market	I.	The price of one currency in terms of another currency
B. Financial Market	II.	Firms can choose where to locate production and workers to choose where to work.
C. Labour Market	III.	Most often an economy can buy financial assets from other countries.
D. Foreign exchange rate	IV.	An economy can trade in goods and services with other countries.

Choose the correct answer from the options given below:

The basic objective of macroeconomics is to develop theoretical tools. They are called........

Solution

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