Question:

Value of MPC is

A.

>1

B.

<1

D.

0≤ mpc ≥1

Answer» d. 0≤ mpc ≥1

Question:

Rate of change in savings to change in income:

A.

aps

B.

apc

C.

mps

D.

mpc

Answer» c. mps

Question:

The law which states that supply creates its own demand and overproduction isimpossible is known as:

A.

the law of supply

B.

say’s law of market

C.

law of demand

D.

law of macro economics

Answer» b. say’s law of market

Question:

Remittances made by NRIs to India in the context of national income accounting iscalled as

A.

remittance income

B.

nri income

C.

factor payments

D.

all of the above

Answer» c. factor payments

Question:

In a closed economy, the value of multiplier , when MPC is 0.90

A.

25

B.

90

C.

10

D.

9

Answer» c. 10

Question:

Policy Neutrality is the main proposition of:

A.

supply side economics.

B.

keynesian economics

C.

monetarism

D.

rational expectations hypothesis

Answer» d. rational expectations hypothesis

Question:

is a term referring to an intellectual controversy over epistemology, researchmethodology between Carl Menger, and Gustav von Schmoller.

A.

methodenstreit

B.

laissez-faire

C.

cetris paribus

D.

quid proquo

Answer» a. methodenstreit

Question:

Who argued that “Everything that is produced in the course of a year, every servicerendered, every fresh utility brought about is a part of the national wealth.”?

A.

js mill

B.

stanley jevons

C.

alfred marshall

D.

robert malthus

Answer» c. alfred marshall

Question:

GDP Deflator is also called as:

A.

implicit cost deflator

B.

gdp at factor cost

C.

implicit wage deflator

D.

implicit price deflator

Answer» d. implicit price deflator

Question:

Why do not the sale or purchase of used goods are not included in the GDP?

A.

used goods have only limited life

B.

used goods are not fresh production

C.

used goods are included in the previous gdp calculations

D.

all the above

Answer» c. used goods are included in the previous gdp calculations