History of Development & Planning - Indian Economy General Awareness MCQs | Page-6

51 Multiplier process in economic theory is conventionally taken to mean:
A The manner in which prices increase
B The manner in which banks create credit
C The manner in which government expenditure increases
D Income of an economy grows on account of an initial investment

Answer: Option [D]
52 Which of the following concepts are most closely associated with J.M. Keynes?
A Marginal utility theory
B Control of money supply
C Marginal efficiency of capital
D Indifference curve analysis

Answer: Option [C]
53 Evaluating all the options to find out most suitable solution to business problems is inter-displinary activities. It is called
A Commercial research
B Operational research
C Management research
D Professional research

Answer: Option [B]
54 In a Laissez-faire economy
A The Government controls the allocation of all the factors of production
B The customers take all the decisions regarding production of all the commodities
C The Government does not interfere in the free functioning of demand and supply forces in the market
D The private sector takes all the decisions for price determination of various commodities produced

Answer: Option [C]
55 In Economics, production means
A Farming
B Creating Utility
C Making
D Manufacturing

Answer: Option [B]
56 With which form of economy is the term ‘Laissez-faire’ associated?
A Command economy
B Mixed economy
C Socialist economy
D Capitalist economy

Answer: Option [D]
57 Who among the following is not a classical economist?
A John Maynard Keynes
B Thomas Malthus
C John Stuart Mill
D David Ricardo

Answer: Option [A]
58 In Economics the ‘Utility’ and ‘Usefulness’ have
A Same meaning
B Different meaning
C Opposite meaning
D None of the above

Answer: Option [B]
59 “Economics is what it ought to be” – This statement refers to
A Fiscal economics
B Monetary economics
C Positive economics
D Normative economics

Answer: Option [D]
60 The problem of Economics arises from
A Plenty
B Scarcity of goods
C More wants and less goods
D All of the above

Answer: Option [C]

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