In NCERT Class 12 Economics Chapter 6, titled "Open-Economy Macroeconomics," students explore the functioning of an economy that engages in international trade and finance. This chapter covers concepts such as balance of payments (BOP), foreign exchange rates, and trade deficits. It also examines the impact of international trade policies and exchange rate systems on economic stability.
This article is a comprehensive resource for exam preparation. It includes sample MCQs and subjective questions for CBSE and CUET, along with downloadable PDFs of Class 12 Economics Chapter 6 MCQs and previous year questions for detailed practice of NCERT Class 12 Open-Economy Macroeconomics.
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NCERT Class 12 Economics Chapters
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CUET Free Master Classes:
Class 12 Economics Chapter 6 MCQs
This question bank includes previous years' CUET and CBSE MCQs, along with questions curated by subject experts. Below are 5 sample multiple-choice questions (MCQs) for Class 12 Economics Chapter 6: Open-Economy Macroeconomics. For the full set of 50 questions, download the PDF using the link provided below.
1-Identify, which one of the following is an intangible item in Balance of Payment (BoP).
(a) Export of food grains
(b) Imports of crude oil
(c) Export of Information Technology (IT) services to U.S.A.
(d) Import of coal by steel company in India
2. Deficit‘ in Balance of Payment (BOP) refers to the excess of _________.
(a) Current account payments over Current account receipts.
(b) Capital account payments over Capital account receipts
(c) Autonomous payments over Autonomous receipts
(d) Accommodating payments over Accommodating receipts
3. _______ is the type of investment in which foreign companies set up plants and factories on their own in India or in collaboration with Indian companies.
(a) Foreign Institutional Investment (b) Foreign Debt Investment
(c) Foreign Direct Investment (d) Foreign Capital Investment
4. A ______ account deficit is financed by net capital form the rest of the world, thus by a capital account surplus.
(a) Capital (b) Current (c) Saving (d) Recurring
5. In the balance of payment account, portfolio investment is a part of.
(a) Post office Account (b) Capital Account (c) Current Account (d) Bank Account
Class 12 Economics Chapter 6 Subjective Questions Without Solutions
This question bank includes previous years' CBSE subjective questions (2 marks and above) without solutions, along with expert-curated questions. Below are 5 sample subjective questions for Class 12 Economics Chapter 6: Open-Economy Macroeconomics. To access all questions, download the PDF from the link provided below.
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1- Distinguish between a 'Current account deficit' and a 'Trade deficit'.
(CBSE 2020, 3M)
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2. Balance of Payment (BOP) is always balanced in the accounting sense.'' Defend or refute the given statement with valid reasons.
(CBSE 2020, 3M)
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3. A country with trade deficit cannot have current account surplus in its Balance of Payments.'' Do you agree with the given statement? Discuss with reason.
(CBSE 2019, 4M)
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4. There exists a positive relation between foreign exchange rate and supply of foreign exchange. Do you agree with the given statement? Justify your answer with valid arguments.
(CBSE 2023, 3M)
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5. Under the flexible exchange rate system, the Central Bank does not intervene in the foreign exchange market. Justify the statement, giving valid arguments.
(CBSE 2023, 3M)
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Sub Areas of Chapter 6: Open-Economy Macroeconomics
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Chapter Name
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Sub Topics
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Open-Economy Macroeconomics
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6.1 Balance of Payments
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6.2 Foreign Exchange Market and Rates
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6.3 Exchange Rate Systems
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6.4 Trade Deficits and Surpluses
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6.5 International Trade Policies
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Review of NCERT Class 12 Economics Chapter 6
In NCERT Class 12 Economics Chapter 6, "Open-Economy Macroeconomics," students gain an understanding of how an economy operates in a global context. The chapter explains the importance of balance of payments, exchange rates, and international trade in shaping economic policies and performance.
Mastering this chapter is essential for analyzing global economic trends and preparing for exams like CBSE, CUET, and other competitive exams.
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