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GK
GK Set-1
Economics
Indian Economics
222

Indian Economics MCQ (GK Set-1) with Answers

222) An empirical study on ’relation ship between the rate of money wage increase and rate of unemployment’ in the economy was given by

A. W. Phillips

J. M. Keynes

R. F. Kahn

Ernst Engel

Answer is:

A. W. Phillips

Indian Economics MCQ (GK Set-1) with Answers

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Related Indian Economics MCQ (GK Set-1) with Answers

223) If Nominal GDP is equal to real GDP, then

The GDP deflator is equal to zero

The GDP deflator is equal to one

The GDP deflator is less than one

None of the above is correct

Answer is:

The GDP deflator is equal to one

224) Potential output is determined by the economy’s productive capacity, which depends upon

(a) The inputs available (capital, labour, land etc.)

(b) The economy’s technological efficiency

Both (A) and (B) together

None of the above

Answer is:

Both (A) and (B) together

225) Investment in human capital is related with expenditure in

Education

Training

Health services

All the above

Answer is:

All the above

226) Other things remaining the same to increase the employment as per Marginal Productivity Theory of Distribution we should

Increase wages

Decrease wages

Increase the marginal productivity of labourers

Decrease the marginal productivity of labourers

Answer is:

Increase the marginal productivity of labourers

Indian Economics MCQ (GK Set-1) with Answers

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