Indian Economics MCQ (GK Set-1) with Answers

Indian Economics MCQ (GK Set-1) with Answers

231) In economic theory, the term ’Ceteris Paribus ’ is used to indicate

Answer is:

Other things are equal

232) Who, among the following economists, used the technique of ’kinked demand curve’ to explain price rigidity under oligopoly?

Answer is:

Paul Sweezy

233) Which law states that, with given taste and preferences, the pro portion of income spent on food stuff diminishes as income increases?

Answer is:

Engel’s law

234) Money was introduced in the growth models for the first time by

Answer is:

None of the above

235) According to Ragner Nurkse in the contest of an underdeveloped economy, the inducement to invest is limited by

Answer is:

Lack of saving

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