Tamil Nadu Board of Secondary EducationHSC Arts Class 12th
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Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide chapter 3 - Theories of Employment and Income [Latest edition]

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Class 12th Economics Answers Guide - Shaalaa.com
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Chapter 3: Theories of Employment and Income

Model Questions - Part AModel Questions - Part BModel Questions - Part CModel Questions - Part D
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Model Questions - Part A [Pages 48 - 49]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 3 Theories of Employment and IncomeModel Questions - Part A [Pages 48 - 49]

Model Questions - Part A | Q I. 1. | Page 48

Every able-bodied person who is willing to work at the prevailing wage rate is employed called as______.

  • Full employment

  • Under employment

  • Unemployment

  • Employment opportunity

Model Questions - Part A | Q I. 2. | Page 48

Structural unemployment is a feature in a

  • Static society

  • Socialist society

  • Dynamic society

  • Mixed economy

Model Questions - Part A | Q I. 3. | Page 48

In disguised unemployment, the marginal productivity of labour is______.

  • Zero

  • One

  • Two

  • Positive

Model Questions - Part A | Q I. 4. | Page 48

The main contention of the Classical Economic Theory is______.

  • Under employment

  • Economy is always in the state of equilibrium

  • Demand creates its supply

  • Imperfect competition

Model Questions - Part A | Q I. 5. | Page 48

J.B. Say is a______.

  • Neo Classical Economist

  • Classical Economist

  • Modern Economist

  • New Economist

Model Questions - Part A | Q I. 6. | Page 48

According to Keynes, which type of unemployment prevails in a capitalist economy?

  • Full employment

  • Voluntary unemployment

  • Involuntary unemployment

  • Under employment

Model Questions - Part A | Q I. 7. | Page 48

The core of the classical theory of employment is______.

  • Law of Diminishing Return

  • Law of Demand

  • Law of Markets

  • Law of Consumption

Model Questions - Part A | Q I. 8. | Page 48

Keynes attributes unemployment to______.

  • A lack of effective supply

  • A lock of effective demand

  • A lack of both

  • None of the above

Model Questions - Part A | Q I. 9. | Page 48

______ Flexibility brings equality between saving and investment.

  • Demand

  • Supply

  • Capital

  • Interest

Model Questions - Part A | Q I. 10. | Page 48

______theory is a turning point in the development of modern economic theory.

  • Keynes’

  • Say’s

  • Classical

  • Employment

Model Questions - Part A | Q I. 11. | Page 49

The basic concept used in Keynes Theory of Employment and Income is______.

  • Aggregate demand

  • Aggregate supply

  • Effective demand

  • Marginal Propensity Consume

Model Questions - Part A | Q I. 12 | Page 48

The component of aggregate demand is______.

  • Personal demand

  • Government expenditure

  • Only export

  • Only import

Model Questions - Part A | Q I. 13. | Page 49

Aggregate supply is equal to______.

  • C + I + G

  • C + S + G + (x-m)

  • C + S + T + (x-m)

  • C + S + T + Rf

Model Questions - Part A | Q I. 14. | Page 49

Keyne's theory pursues to replace laissez faire by ______.

  • No government intervention

  • Maximum intervention

  • State intervention in certain situation

  • Private sector intervention

Model Questions - Part A | Q I. 15. | Page 49

In Keynes's theory of employment and income, ………….. is the basic cause of economic depression.

  • Less production

  • More demand

  • Inelastic supply

  • Less aggregate demand in relation to productive capacity.

Model Questions - Part A | Q I. 16. | Page 49

Classical theory advocates______.

  • Balanced budget

  • Unbalanced budget

  • Surplus budget

  • Deficit budget

Model Questions - Part A | Q I. 17 | Page 49

Keynes's theory emphasized on ______ equilibrium.

  • Very short run

  • Short-run

  • Very long run

  • Long run

Model Questions - Part A | Q I. 18. | Page 49

According to classical theory, the rate of interest is a reward for______.

  • Investment

  • Demand

  • Capital

  • Saving

Model Questions - Part A | Q I. 19. | Page 49

In Keynes's theory, the demand for and supply of money are determined by ______.

  • Rate of interest

  • Effective demand

  • Aggregate demand

  • Aggregate supply

Model Questions - Part A | Q I. 20. | Page 49

Say’s law stressed the operation of  ______in the economy.

  • Induced price mechanism

  • Automatic price mechanism

  • Induced demand

  • Induced investment

Model Questions - Part B [Page 50]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 3 Theories of Employment and IncomeModel Questions - Part B [Page 50]

Model Questions - Part B | Q 21. | Page 50

Define full employment.

Model Questions - Part B | Q 22. | Page 50

What is the main feature of rural unemployment?

Model Questions - Part B | Q 23. | Page 50

Give a short note on frictional unemployment.

Model Questions - Part B | Q 24. | Page 50

Give reasons for labour retrenchment in the present situation.

Model Questions - Part B | Q 25. | Page 50

List out the assumptions of Say’s law.

Model Questions - Part B | Q 26. | Page 50

What is effective demand?

Model Questions - Part B | Q 27. | Page 50

What are the components of aggregate supply?

Model Questions - Part C [Page 50]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 3 Theories of Employment and IncomeModel Questions - Part C [Page 50]

Model Questions - Part C | Q 28. (i) | Page 50

Write the following in short.

Seasonal unemployment

Model Questions - Part C | Q 28. (ii) | Page 50

Write the following in short.

Frictional unemployment

Model Questions - Part C | Q 28. (iii) | Page 50

Write the following in short.

Educated unemployment

Model Questions - Part C | Q 29. | Page 50

According to the classical theory of employment, how to wage reduction solve the problem of unemployment diagramatically explain.

Model Questions - Part C | Q 30. | Page 50

Write short note on the implications of Say’s law.

Model Questions - Part C | Q 31. | Page 50

Explain Keynes’ theory in the form of a flow chart.

Model Questions - Part C | Q 32. 1 | Page 50

What do you mean by aggregate demand?

Model Questions - Part C | Q 32. 2 | Page 50

Mention its components.

Aggregate demand

Model Questions - Part C | Q 33. | Page 50

Explain aggregate supply with the help of a diagram.

Model Questions - Part C | Q 34. | Page 50

Write any five differences between classism and Keynesianism.

Model Questions - Part D [Page 51]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 3 Theories of Employment and IncomeModel Questions - Part D [Page 51]

Model Questions - Part D | Q 35. | Page 51

Describe the types of unemployment.

Model Questions - Part D | Q 36. | Page 51

Critically explain Say’s law of market.

Model Questions - Part D | Q 37. | Page 51

Narrate the equilibrium between ADF and ASF with a diagram.

Model Questions - Part D | Q 38. | Page 51

Explain the differences between classical theory and Keynes theory

Chapter 3: Theories of Employment and Income

Model Questions - Part AModel Questions - Part BModel Questions - Part CModel Questions - Part D
Class 12th Economics Answers Guide - Shaalaa.com

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide chapter 3 - Theories of Employment and Income

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide chapter 3 (Theories of Employment and Income) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Tamil Nadu Board of Secondary Education Class 12th Economics Answers Guide solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Class 12th Economics Answers Guide chapter 3 Theories of Employment and Income are Introduction to Full Employment, Meaning of Full Employment, Unemployment and Its Types, Classical Theory of Employment, Keynes’ Theory of Employment and Income, Effective Demand, Comparison of Classicism and Keynesianism.

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Get the free view of chapter 3 Theories of Employment and Income Class 12th extra questions for Class 12th Economics Answers Guide and can use Shaalaa.com to keep it handy for your exam preparation

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