( Best 200+ ) Basics of Economics MCQ

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Basics of Economics MCQ

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Basics of Economics MCQ

Basics of Economics MCQ

111. The term “Classical Economics” was first used by:

A. j.m. keynes

B. adam smith

C. karl marx

D. david ricardo

112. Who is the leader of the Classical school?

A. thomas robert malthus

B. j.s. mill

C. david ricardo

D. adam smith.

113. The core of classical economists is:

A. effective demand

B. employment

C. say’s law of market

D. socialism

114. ‘Law of Market’ is attributed to:

A. j.s. mill

B. j.b. say

C. alfred marshall

D. a.c. pigou

115. The Classicals adopted ———policy:

A. governmental policy

B. laissez-faire

C. policy of restriction

D. none of these

116. According to Classicals, full employment is a:

A. rare phenomenon

B. normal phenomenon

C. abnormal phenomenon

D. none of these

117. According to the Classical economists, general over production is:

A. possible

B. impossible

C. both

D. none

118. According to the Classical economists, savings and investments are:

A. always unequal

B. always equal

C. never equal

D. sometimes equal

119. Classical aggregate supply curve is:

A. perfectly elastic

B. perfectly inelastic

C. more elastic

D. unitary elastic

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