Top 150+ Solved Basics of Economics MCQ Questions Answer
Q. “In the long run, we are all dead”. Who said this?
a. keynes
b. adam smith
c. karl marx
d. david ricardo
Q. According to Keynes, investment is a function of:
a. rate of interest
b. rate of profit
c. rate of mei
d. mei and rate of interest
Q. Keynes believed in :
a. full employment equilibrium
b. under employment equilibrium
c. both
d. none
Q. In Economics, 1930s is popularly known as the period of:
a. great battle
b. great depression
c. industrial revolution
d. great devide
Q. Keynes strongly argued for:
a. free trade
b. non-intervention of government
c. laissez-faire
d. governmental intervention
Q. Consumption expenditure directly varies with:
a. savings
b. investment
c. disposable income
d. rate of interest
Q. An important issue of macro economics is the determination of:
a. consumption
b. production
c. utility
d. income and employment
Q. Which of the following items does not include in the group?
a. consumption
b. investment
c. rate of interest
d. net exports
Q. Who is known as the father of Modern Economics?
a. adam smith
b. j.m.keynes
c. robinson
d. ricardo
Q. Goods without which people can not live are called:
a. comforts
b. luxuries
c. necessaries
d. none
Q. The problem of what to produce is a problem of:
a. distribution
b. technological choice
c. consumption
d. allocation of resources
Q. Those things that possess both utility and scarcity are called:
a. economic goods
b. free goods
c. intermediate goods
d. luxuries