Revision Direct Question

2 Marks:

1. Define national income.
2. Define economic growth.
3. What is unemployment?
4. Define macroeconomics.
5. State any two importance of Macroeconomics. 
6. What is an economic policy?
7. What are the concepts of macroeconomics?
8. Name the person who coined the ther 'macro'.
9. Name the book written by Keynes which revolutionized the economic thinking.
10. What is Fallacy of composition?
11. What are consumer goods?
12. Mention any two concepts of National Income.
13. Define inflation.
14. Mention the tools of fiscal policy.
15. Define business cycle.
16. Mention the phases of business cycle.
17. Define deficit balance of payment.
18. Define surplus balance of payment.