History of Development and Planning - Economics General Awareness Objective Questions with Answers

71 “Functional Finance” is associated with:

A Adams

B Adam Smith

C Adolph Wogner

D Abba ‘P’ Lerner

Answer: Option [D]

72 As per the TRIPS Agreement 1994, a good originating from a region with specific character/quality/reputation is covered/to be protected under the IPR as

A Patent

B Trademark

C Trade sector

D GI (Geographical Indicator)

View Answer Comment

Answer: Option [D]

73 The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs

A Ohlin

B J.B. Say

C Galbraith

D J.M. Keynes

View Answer Comment

Answer: Option [B]

74 An economy which does not have any relation with the rest of the world is known as

A Mixed economy

B Open economy

C Closed economy

D Socialist economy

View Answer Comment

Answer: Option [C]

75 A philosophy that the worker should share in industrial decisions is termed as

A Worker dictatorship

B Industrial socialism

C Worker sovereignty

D Industrial democracy

View Answer Comment

Answer: Option [D]

76 According to Modern Theory of Rent, rent accrues to

A Any factor

B Capital only

C Land only

D Labour only

View Answer Comment

Answer: Option [A]

77 The book which is at the centerpiece of the study of Macro-Economics was written by

A Prof. Benham

B Prof. Baumol

C Prof. Samuelson

D Prof. J.M. Keynes

View Answer Comment

Answer: Option [D]

78 The basic problem studied in Macro-Economics is

A Usage of income

B Flow of income

C Production of income

D Distribution of income

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Answer: Option [C]

79 ‘Take-off stage’ in an economy means

A Steady growth begins

B Economy is stagnant

C Economy is about to collapse

D All controls are removed

View Answer Comment

Answer: Option [A]

80 The relationship between the rate of interest and level of consumption was first visualized by

A Amartya K. Sen

B Irving Fisher

C Milton Friedman

D James Duesenberry

View Answer Comment

Answer: Option [B]

History of Development & Planning - Indian Economy General Awareness MCQs | Page-8

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