Economics GK Quiz

Q151. According to Leibenstein, the favourable conditions in the path of Economic Development are known as
(a) Positive factors
(b) Incentives
(c) Capital
(d) Growth agents

Q152. According to Hicks, a neutral invention is when
(a) It increases savings and investment in same proportions
(b) It raises marginal productivities of labour and capital in the same proportion
(c) It develops agriculture and industrial sector simultaneously
(d) It does not affect the economy

Q153. Which of the following economists have developed New Growth Theory
(a) Romer, Lucas and Arrow
(b) Romer, Robinson and Kaldor
(c) Marx, Schumpeter and Keynes
(d) Romer, Schumpeter and Meade

Q154. Fei-Ranis theory of development is considered as an improvement over _________ theory
(a) Lewis theory
(b) Solow’s model
(c) Harrod-Domar model
(d) Joan Robinson’s model

Q155. The Law of Rising Public Expenditure was advanced by
(a) Adam Smith
(b) Paul Samuelson
(c) Adolph Wagner
(d) Wiesman and Peacock

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