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Multiple Choice Questions

This document contains 45 multiple choice questions related to economics topics. The questions cover concepts like Pareto's maximization for welfare, Harrod's growth model, theories of the firm like Cournot's oligopoly model and profit maximization, consumption function theories by Keynes and Friedman, accelerator theory, and more economic models and theorists.

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30 views2 pages

Multiple Choice Questions

This document contains 45 multiple choice questions related to economics topics. The questions cover concepts like Pareto's maximization for welfare, Harrod's growth model, theories of the firm like Cournot's oligopoly model and profit maximization, consumption function theories by Keynes and Friedman, accelerator theory, and more economic models and theorists.

Uploaded by

tadabe8680
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Multiple choice questions

1) What is true for Pareto’s maximization for welfare ?  It is based on measurable


idea of utility
2) The desired rate of income growth (Gw) is represented in Harrod’s Form  Gw =
(Iw/Sw) x (1 - v)
3) The exponent of Maximum sales Principle has been  William J. Baumol.
4) The number of firms in oligopoly is  Between two and ten
5) Who first gave the idea of cost of sales ?  Chamberlain
6) The consumption function theory given by Keynes was reformed by  Milton
Friedman , Franco Modigliani
7) Who gave the model of dual economy ?  Sir Arthur Lewis
8) Profit maximization by cartel of firms is an example of  General Equlibrium
9) Hicks Business Cycle theory Is Based On  on the interplay of the multiplier and
accelerator.
10) The Exponents Of kinked/contracted Demand Curve hypothesis are  Sweezy
11) Who used reaction Curves to show stable equilibrium  Augustin Cournot
12) L.M. The schedule is a schedule of monetary equilibrium where  Supply for
money is equal to the demand for money
13) Who propounded the accelerator theory  Paul Samuelson
14) Who first presented the oligopoly model ?  Cournot
15) Which of the following is correctly matched ?  Hicks – Accelerator ,
Friedman- Human Capital , Sweezy-contracted demand
16) The part of the demand curve above the inelastic demand curve model is  More
elastic
17) In the theory of value , The analysis of selling costs has been initiated by 
Chamberlain
18) Cartel is the part of which market ?  Oligopoly
19) Which of the following dosen’t belong to the classical model of oligopoly ? 
Nicholas Kaldor
20) Who of the following is associated with welfare economics ?  Bergson , Pareto ,
Kaldor
21) Multiplier has a relation with MPC Of  there is a direct relation
22) Who gave the permanent income hypothesis ?  Milton Friedman
23) Which Equation is true here for the multiplier , where mpc ,mps ,and mpi have their
1
usual meanings ?  ks =
𝑚𝑝𝑐−𝑚𝑝𝑠
24) Which Of the following has been assumed In the modern theory of the firm ? 
Profit maximization is the only goal of the firm
25) Cournot’s Model is  Oligopoly
26) Multiplier expresses  The relationship between investment growth and income
growth
27) Who laid the foundation of new welfare economics ?  Prof. Pareto
28) The social welfare function was rendered by  By Kaldor
29) The credit for formulation and development of input-output analysis goes to  W.W
Leontief
30) The Objective of the oligopoly firm is  Profit maximization , reduce competition ,
Minimum profit
31) In the consumption function C = a + by where c is consumption , and y is the
indicator of income. Which of the function is related to this consumption function ? 
Keynes
32) The problem of “Knife Edge ” in growth is related to  Harrod
33) The idea of relative income hypothesis was given by  James Dusenbery
34) Hicks-Hansen analysis done with the help of investment-saving curve and liquidity
money supply curve shows that the two markets which are simultaneously inelastic are
 Money , Market and stock Market
35) The Idea Of Permanent income is  Milton Friedman
36) The Golden rule of development was propounded by  Robert M. Solow
37) According to Friedman , the shape of the long run Philips curve will be  Vertical to
the x-axis
38) The rate of interest is determined at the point where  HR and KL intersect each
other
39) General equilibrium theory (2X2X2) is given by  Walra
40) The Harrod Domar Model is  Pragmatic
41) The social welfare function of Bergson and Samuelson  on value decisions
42) In Baumol’s sales revenue maximization model , when the minimum profit constraint
is high , the firm production  Increases
43) The author of the ‘The theory of monopolistic competition’  Chamberlin
44) The theory of Marginalists of firm study presents the condition of equilibrium in the
following firm  MC = MR
45) Whose Famous book is “Business Behaviour , Value and growth ” ?  Baumol

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