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Economics GK Quiz

Q91. Sigma effect has been given by
(a) Domar
(b) Harrod
(c) Keynes
(d) Kalecki

Q92. According to Leibenstein, population growth is a function of
(a) Net investment
(b) Gross Domestic Product
(c) Aggregate consumption
(d) Per capita income

Q93. According to Nurkse, in an underdeveloped country, the inducement to invest in limited by
(a) Lack of savings
(b) Size of the market
(c) Over-consumption
(d) Lack of investment opportunities

Q94. Who among the following is credited with the use of the word "regression" in statistics for the first time
(a) Karl Pearson
(b) Spearman
(c) Francis Galton
(d) R A Fisher

Q95. Who among the following economists, is associated with Adapted Expectation Hypothesis
(a) Lucas
(b) Keynes
(c) Milton Friedman
(d) John Muth



Q96. Innovation Theory of Profit is propounded by
(a) Hawtrey
(b) Schumpeter
(c) Knight
(d) Hawley

Q97. Whose name is associated with Net Barter Terms of Trade
(a) Dorrance
(b) J. Viner
(c) James Mill
(d) Taussig

Q98. Under Slutsky's substitution effect, the consumer
(a) Moves on a lower indifference curve
(b) Moves on a higher indifference curve
(c) Remains on same indifference curve
(d) All of the above

Q99. In the case of substitute goods, the elasticity of demand is
(a) Zero
(b) Unity
(c) Negative
(d) Positive

Q100. In case of perfect correlation, the two regression lines are
(a) Parallel
(b) Perpendicular
(c) Coincident
(d) Inclined to each other



Q101. Which of the following is the assumption of absolute advantage theory of international trade
(a) Labour theory of value
(b) Absence of transportation cost
(c) Absence of technological change
(d) All of the above

Q102. The reciprocal demand curve is also known as
(a) Offer curve
(b) Laffer curve
(c) Lorenz curve
(d) Phillips curve

Q103. The factor price equalisation theorem is given by
(a) Haberler
(b) Samuelson
(c) J.S. Mill
(d) Mercantilists

Q104. Which among the following is not a measure to correct the balance of payment disequilibrium
(a) Devaluation
(b) Revaluation
(c) Deflation
(d) None of the above

Q105. According to Rybczynski theorem, commodity prices should by
(a) Increasing
(b) Decreasing
(c) Constant
(d) Either (A) or (B)


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