Economics GK Questions

Q16. Lorenz curve enables one to study which of the following
(a) Average
(b) Dispersion
(c) Correlation
(d) Tax Rate

Q17. The critical minimum effort theory is due to
(a) W. A. Lewis
(b) D. Ricardo
(c) H. Leibenstein
(d) A. D. Hirschman

Q18. Limit pricing is an entry condition in the theory of firm by
(a) J. S. Bain
(b) Curnot
(c) Chamberlin
(d) W. J. Baumole

Q19. Input-Output technique was invented by
(a) Gunnar Myrdal
(b) Wassily Leontief
(c) Hollis B. Chenery
(d) Robert Solow

Q20. Which economist is also known as the master of partial analysis
(a) Friedrich Hayek
(b) John Maynard Keynes
(c) Alfred Marshall
(d) David Ricardo

Q21. The Equation of exchange is associated with which economist
(a) Friedrich Hayek
(b) Ragnar Frisch
(c) A.C.Pigou
(d) Irving Fisher

Q22. Uniform price is a feature of
(a) Perfect competition
(b) Oligopoly
(c) Monopolistic Competition
(d) Monopoly

Q23. The market in which share prices are going up in knwon as
(a) Bear Market
(b) Bull Market
(c) Lion market
(d) Capital Market

Q24. At the break-even point, the total cost is equal to
(a) Total lost
(b) Total revenue
(c) Total capital
(d) Total profit

Q25. The formula used for computing current ratio is
(a) Current Assets / Current Liabilities
(b) Net Income/Shareholder's Equity
(c) Marginal Cost/Average Cost
(d) Total Liabilities / Shareholders Equity

Q26. Who has written the book "Principles of Economics"
(a) Léon Walras
(b) Carl Menger
(c) Alfred Marshall
(d) Friedrich von Wieser

Q27. The IS–LM model was developed by
(a) John Maynard Keynes
(b) Alvin Hansen
(c) John Hicks
(d) None of the above

Q28. The IS curve is drawn as ___________ sloping
(a) Upward
(b) Downward
(c) Zero
(d) None of the above

Q29. The LM curve is drawn as ___________ sloping
(a) Upward
(b) Downward
(c) Zero
(d) None of the above

Q30. Who invented the General Equilibrium analysis
(a) Alfred Marshall
(b) John Maynard Keynes
(c) Léon Walras
(d) Carl Menger

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