Question: If the value of a variable varies as a consequence of the variation in the value of someother variable, it is called: A. exogenous variable B. endogenours v ariable C. stock D. flow Answer» a. exogenous variable Note: The…
Question: The classical economists believed that the demand for labour is a function of: A. total money wages B. money wage rate C. total real wages D. real wage rate Answer» d. real wage rate Note: The above multiple-choice question…
Question: Who made the first major attempt to estimate national income in a somewhatcomprehensive manner? A. robert fisher B. john maynard keynes C. simon kuznets D. arthur pigou Answer» c. simon kuznets Note: The above multiple-choice question is for all…
Question: The idea that a general cut in wages will finally lead to a state of full employment wassuggested by : A. keynes B. marshall C. j.b.say D. a.c.pigou Answer» d. a.c.pigou Note: The above multiple-choice question is for all…
Question: Which of the following is not correct: A. mpc declines as income increases B. mpc is positive but less than one C. mps is always positive D. all the above Answer» c. mps is always positive Note: The above…
Question: Employment equilibrium in the Classical theory is achievedthrough: A. wage-price flexibility. B. changes in aggregate demand C. changes in aggregate supply D. none of these. Answer» a. wage-price flexibility. Note: The above multiple-choice question is for all general and…
Question: Adam Smith, the father of modern economic theory, defined economics as a subject,which is mainly concerned with the study of nature and causes of generation of A. wealth B. welfare C. hipness D. scarcity Answer» a. wealth Note: The…
Question: In a two sector economy, aggregate demand is equalto A. c+i B. c+s C. s+i D. all of the above Answer» a. c+i Note: The above multiple-choice question is for all general and Competitive Exams in India.
Question: As the value of MPC increases, the value ofmultiplier: A. decreases B. increases C. constant D. cannot Answer» b. increases Note: The above multiple-choice question is for all general and Competitive Exams in India.
Question: The problem of scarcity and choice making can be depicted using the tool of curve. A. demand B. isoquant C. indifference D. production possibility Answer» d. production possibility Note: The above multiple-choice question is for all general and Competitive…