Top 150+ Solved Basics of Economics MCQ Questions Answer

From 106 to 120 of 180

Q. Which of the following is true:

a. gdp is a geographical concept

b. gdp is not a geographical concept

c. gdp and gnp are same

d. none of them

  • a. gdp is a geographical concept

Q. GNP measured in terms of current market prices is called:

a. nominal gnp

b. real gnp

c. both

d. none

  • a. nominal gnp

Q. In India, the current base year is:

a. 1980-81

b. 1993-94

c. 1999-2000

d. 2004-05

  • d. 2004-05

Q. Which of the following doest not include in the group?

a. gdp

b. gnp

c. gva

d. ndp

  • d. ndp

Q. The term “Classical Economics” was first used by:

a. j.m. keynes

b. adam smith

c. karl marx

d. david ricardo

  • c. karl marx

Q. Who is the leader of the Classical school?

a. thomas robert malthus

b. j.s. mill

c. david ricardo

d. adam smith.

  • d. adam smith.

Q. The core of classical economists is:

a. effective demand

b. employment

c. say’s law of market

d. socialism

  • c. say’s law of market

Q. ‘Law of Market’ is attributed to:

a. j.s. mill

b. j.b. say

c. alfred marshall

d. a.c. pigou

  • b. j.b. say

Q. The Classicals adopted ---------policy:

a. governmental policy

b. laissez-faire

c. policy of restriction

d. none of these

  • b. laissez-faire

Q. According to Classicals, full employment is a:

a. rare phenomenon

b. normal phenomenon

c. abnormal phenomenon

d. none of these

  • b. normal phenomenon

Q. According to the Classical economists, general over production is:

a. possible

b. impossible

c. both

d. none

  • b. impossible

Q. According to the Classical economists, savings and investments are:

a. always unequal

b. always equal

c. never equal

d. sometimes equal

  • b. always equal

Q. Classical aggregate supply curve is:

a. perfectly elastic

b. perfectly inelastic

c. more elastic

d. unitary elastic

  • b. perfectly inelastic

Q. Pick the odd one from the following:

a. law of market

b. j.b. say

c. full employment

d. j.m. keynes

  • d. j.m. keynes

Q. According to the Classicals, investment is a function of:

a. saving

b. income

c. employment

d. rate of interest

  • d. rate of interest
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