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Questions
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)

Answer: Option [D]
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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

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

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

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

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

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

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

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

Answer: Option [B]
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