The time element in price analysis was introduced by : (1) J.M. Keynes (2) Alfred Marshall (3) J.S. Mill (4) J.R. Hicks

The time element in price analysis was introduced by : (1) J.M. Keynes (2) Alfred Marshall (3) J.S. Mill (4) J.R. Hicks
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The time element in price analysis was introduced by : (1) J.M. Keynes (2) Alfred Marshall (3) J.S. Mill (4) J.R. Hicks

Description : The time element in price analysis was introduced by : (1) J.M. Keynes (2) Alfred Marshall (3) J.S. Mill (4) J.R. Hicks

Last Answer : (2) Alfred Marshall Explanation: Marshall, who propounded the theory that price is determined by both demand and supply, also gave a great importance to the time element in the determination of price. ... and the longer the period more important will be the influence of cost of production on value."

Wage fund theory was propounded by (1) J.B. Say (2) J.S. Mill (3) J.R. Hicks (4) J.M. Keynes

Description : Wage fund theory was propounded by (1) J.B. Say (2) J.S. Mill (3) J.R. Hicks (4) J.M. Keynes

Last Answer : (2) J.S. Mill Explanation: J.S. Mill developed the wagesfund theory. This theory of wage was an attempt to show that in certain circumstances wages could rise above subsistence level. According to this ... be paid. This fund of capital is called wages-fund out of which wages are paid to labourers.

Wage fund theory was propounded by (1) J.B. Say (2) J.S. Mill (3) J.R. Hicks (4) J.M. Keynes

Description : Wage fund theory was propounded by (1) J.B. Say (2) J.S. Mill (3) J.R. Hicks (4) J.M. Keynes

Last Answer : J.S. Mill 

The Liquidity Preference Theory of Interest was propounded by : (1) J.M. Keynes (2) David Ricardo (3) Alfred Marshall (4) Adam Smith

Description : The Liquidity Preference Theory of Interest was propounded by : (1) J.M. Keynes (2) David Ricardo (3) Alfred Marshall (4) Adam Smith

Last Answer : (1) J.M. Keynes Explanation: In macroeconomic theory, liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John May-nard Keynes in his book ... Money (1936) to explain determination of the interest rate by the supply and demand for money.

The terms "Micro Economics" and "Macro Economics" were coined by - (1) Alfred Marshall (2) Ragner Nurkse (3) Ragner Frisch (4) J.M. Keynes

Description : The terms "Micro Economics" and "Macro Economics" were coined by - (1) Alfred Marshall (2) Ragner Nurkse (3) Ragner Frisch (4) J.M. Keynes

Last Answer : (3) Ragner Frisch Explanation: The terms microeconomics and macroeconomics were coined by Professor Ragnar Frisch of Oslo University for the first time in 1933 and since then they gained popularity and ... number of significant advances in the field of economics and coined a number of new words.

The Liquidity Preference Theory of Interest was propounded by : (1) J.M. Keynes (2) David Ricardo (3) Alfred Marshall (4) Adam Smith

Description : The Liquidity Preference Theory of Interest was propounded by : (1) J.M. Keynes (2) David Ricardo (3) Alfred Marshall (4) Adam Smith

Last Answer : J.M. Keynes

The terms “Micro Economics” and “Macro Economics” were coined by (1) Alfred Marshall (2) Ragner Nurkse (3) Ragner Frisch (4) J.M. Keynes

Description : The terms “Micro Economics” and “Macro Economics” were coined by (1) Alfred Marshall (2) Ragner Nurkse (3) Ragner Frisch (4) J.M. Keynes

Last Answer : Ragner Frisch 

----------is known as father of economics (a) Adam Smith ; (b) Professor A Samulson ; (c) Alfred Marshall ; (d) J R Hicks

Description : ----------is known as father of economics (a) Adam Smith ; (b) Professor A Samulson ; (c) Alfred Marshall ; (d) J R Hicks

Last Answer : (a) Adam Smith ; 

Who defined investment as "the construction of a new capital asset like machinery or factory building"? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Description : Who defined investment as "the construction of a new capital asset like machinery or factory building"? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Last Answer : (2) J.M. Keynes Explanation: Investment expenditure refers to the creation of new assets i.e. an addition to the stock of existing capital assets. According to Keynes investment demand depends upon ... the rate of interest (IR). Investment demand decreases with the increase in the rate of interest.

Who defined investment as “the construction of a new capital asset like machinery or factory building” ? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Description : Who defined investment as “the construction of a new capital asset like machinery or factory building” ? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Last Answer : J.M. Keynes

The father of Economics is - (1) Marshall (2) Adam Smith (3) J.M. Keynes (4) Karl Marx

Description : The father of Economics is - (1) Marshall (2) Adam Smith (3) J.M. Keynes (4) Karl Marx

Last Answer : (2) Adam Smith Explanation: Adam Smith is known as 'Father of Modern Economics,' He is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776).

"Supply creates its own demand" - Who said this? (1) J. B. Say (2) J. S. Mill (3) J. M. Keynes (4) Senior

Description : "Supply creates its own demand" - Who said this? (1) J. B. Say (2) J. S. Mill (3) J. M. Keynes (4) Senior

Last Answer : (1) J. B. Say Explanation: "Supply creates its own demand" is the formulation of Say's law by John Maynard Keynes. The rejection of this doctrine is a central component of The General Theory of ... you build it, they will come", and Inherent in supply is the wherewithal for its own consumption".

“Supply creates its own demand” – Who said this ? (1) J. B. Say (2) J. S. Mill (3) J. M. Keynes (4) Senior

Description : “Supply creates its own demand” – Who said this ? (1) J. B. Say (2) J. S. Mill (3) J. M. Keynes (4) Senior

Last Answer : J. B. Say

Imperfect competition was introduced by A.Marshall B.Chamberlin C.Keynes D.None

Description : Imperfect competition was introduced by A.Marshall B.Chamberlin C.Keynes D.None

Last Answer : B.Chamberlin

Imperfect competition was introduced by A.Marshall B.Chamberlin C.Keynes D.None

Description : Imperfect competition was introduced by A.Marshall B.Chamberlin C.Keynes D.None

Last Answer : B.Chamberlin

Who propounded the Innovation theory of profits? (1) J.A. Schumpeter (2) P.A. Samuelson (3) Alfred Marshall (4) David Ricardo.

Description : Who propounded the Innovation theory of profits? (1) J.A. Schumpeter (2) P.A. Samuelson (3) Alfred Marshall (4) David Ricardo.

Last Answer : (1) J.A. Schumpeter Explanation: Schumpeter's (1934) original theory of innovative profits emphasized the role of entrepreneurship (his term was entrepreneurial profits) and the ... innovation, in which independent inventors typically fed discoveries as potential inputs to entrepreneurial firms.

Who propounded the Innovation theory of profits ? (1) J.A. Schumpeter (2) P.A. Samuelson (3) Alfred Marshall (4) David Ricardo

Description : Who propounded the Innovation theory of profits ? (1) J.A. Schumpeter (2) P.A. Samuelson (3) Alfred Marshall (4) David Ricardo

Last Answer : J.A. Schumpeter

Who said, "Economics is the Science of Wealth"? (1) Robbins (2) J.S. Mill (3) Adam Smith (4) Keynes

Description : Who said, "Economics is the Science of Wealth"? (1) Robbins (2) J.S. Mill (3) Adam Smith (4) Keynes

Last Answer : (3) Adam Smith Explanation: It was Adam Smith who conceptualized Economics as a science of wealth. Elaborating upon the scope and fundamental conceptualizations of the new science, he then called political economy as "an inquiry into the nature and causes of the wealth of nations."

Who said, “Economics is the Science of Wealth” ? (1) Robbins (2) J.S. Mill (3) Adam Smith(4) Keynes

Description : Who said, “Economics is the Science of Wealth” ? (1) Robbins (2) J.S. Mill (3) Adam Smith(4) Keynes 

Last Answer : Keynes

Revealed preference theory of demand is given by (a) Paul M. Sweegy (b) Marshall (c) Paul Samuelson (d) Hicks

Description : Revealed preference theory of demand is given by (a) Paul M. Sweegy (b) Marshall (c) Paul Samuelson (d) Hicks

Last Answer : (a) Paul M. Sweegy

Which of the following concepts are most closely associated with J.M. Keynes? (1) Control of money supply (2) Marginal utility theory (3) Indifference curve analysis (4) Marginal efficiency of captial

Description : Which of the following concepts are most closely associated with J.M. Keynes? (1) Control of money supply (2) Marginal utility theory (3) Indifference curve analysis (4) Marginal efficiency of captial

Last Answer : (4) Marginal efficiency of captial Explanation: The marginal efficiency of capital (MEC) is that rate of discount which would equate the price of a fixed capital asset with its present discounted ... given by the returns expected from the capital asset during its life Just equal its supply price

Which of the following concepts are most closely associated with J.M. Keynes ? (1) Control of money supply (2) Marginal utility theory (3) Indifference curve analysis (4) Marginal efficiency of captial

Description : Which of the following concepts are most closely associated with J.M. Keynes ? (1) Control of money supply (2) Marginal utility theory (3) Indifference curve analysis (4) Marginal efficiency of captial

Last Answer : Marginal efficiency of captial

Who defined economics as “ Science which deals with wealth” (a) J. (B) Say ; (b) (A) (C) pigou ; (c) Alfred Marshall ; (d) Robbins

Description : Who defined economics as “ Science which deals with wealth” (a) J. (B) Say ; (b) (A) (C) pigou ; (c) Alfred Marshall ; (d) Robbins

Last Answer : (a) J. (B) Say ; 

ho defined 'Rent' as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil? (1) Ricardo (2) Marshall (3) Keynes (4) Plgou

Description : ho defined 'Rent' as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil? (1) Ricardo (2) Marshall (3) Keynes (4) Plgou

Last Answer : (1) Ricardo Explanation: In his The Principles of Political Economy and Taxation (1821), David Ricardo stated: "Rent is that portion of the produce of the earth, which is paid to the landlord for ... in popular language, the term is applied to whatever is annually paid by a farmer to his landlord.

"Interest is a reward for parting with liquidity" is according to - (1) Keynes (2) Marshall (3) Haberler (4) Ohlin

Description : "Interest is a reward for parting with liquidity" is according to - (1) Keynes (2) Marshall (3) Haberler (4) Ohlin

Last Answer : (1) Keynes Explanation: In macroeconomic theory, liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John Maynard Keynes in his book The ... a reward for saving, interest in the Keynesian analysis is a reward for parting with liquidity.

Who defined ‘Rent’ as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil ? (1) Ricardo (2) Marshall (3) Keynes (4) Pigou

Description : Who defined ‘Rent’ as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil ? (1) Ricardo (2) Marshall (3) Keynes (4) Pigou

Last Answer : Ricardo

Who is called the 'Father of Economics'? (1) Max Muller (2) Karl Marx (3) Adam Smith (4) Alfred Marshall

Description : Who is called the 'Father of Economics'? (1) Max Muller (2) Karl Marx (3) Adam Smith (4) Alfred Marshall

Last Answer : (3) Adam Smith Explanation: Adam Smith who laid the foundations of classical free market economic theory is known as the Father of Modern Economics. His magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations (1776),' is considered the first modern work of economics.

The Absorption Approach is developed by (a) Sidney Alexander (b) Alfred Marshall (c) A. Lerner (d) Jacob Viner

Description : The Absorption Approach is developed by (a) Sidney Alexander (b) Alfred Marshall (c) A. Lerner (d) Jacob Viner

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The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs - (1) J.M.Keynes (2) Ohlin (3) J. B. Say (4) Galbraith

Description : The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs - (1) J.M.Keynes (2) Ohlin (3) J. B. Say (4) Galbraith

Last Answer : (3) J. B. Say Explanation: The classical economists' belief in full employment as a normal condition of a free market economy is based on Say's Law of Markets. It was on the ... overproduction and hence general unemployment were impossible. The law simply states "supply creates its own demand."

The book which is at the centrepiece of the study of Macro - Economics was written by - (1) Prof. Samuelson (2) Prof. J.M. Keynes (3) Prof. Benham (4) Prof. Baumol

Description : The book which is at the centrepiece of the study of Macro - Economics was written by - (1) Prof. Samuelson (2) Prof. J.M. Keynes (3) Prof. Benham (4) Prof. Baumol

Last Answer : (2) Prof. J.M. Keynes Explanation: J.M. Keynes's magnum opus, The General Theory of Employment, Interest and Money' is often viewed as the foundation of modern macroeconomics. Macroeconomics ... , structure, behavior, and decision-making of an economy as a whole, rather than individual markets.

The 'Canons of Taxation' were propounded by - (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton

Description : The 'Canons of Taxation' were propounded by - (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton

Last Answer : (2) Adam Smith Explanation: Canons of Taxation were first originally laid down by economist Adam Smith in his famous book 'The Wealth of Nations". In this book, Adam smith only gave four canons of taxation: ... equity: (ii) canon of certainty: (iii) canon of convenience; and (iv) canon of economy.

The term 'Macro Economics' was used by _______. (1) J.M. Keynes (2) Ragner Frisch (3) Ragner Nurkse (4) Prof. Knight

Description : The term 'Macro Economics' was used by _______. (1) J.M. Keynes (2) Ragner Frisch (3) Ragner Nurkse (4) Prof. Knight

Last Answer : (2) Ragner Frisch Explanation: Ragnar Frisch coined the widelyused term pair macroeconomics/ microeconomics in 1933. He was a Norwegian economist and the co-recipient of the first Nobel Memorial Prize in Economic Sciences in 1969. Fie is known for having founded the discipline of econometrics.

Who is called the Father of Economics? (1) J.M. Keynes (2) Malthus (3) Ricardo (4) Adam Smith

Description : Who is called the Father of Economics? (1) J.M. Keynes (2) Malthus (3) Ricardo (4) Adam Smith

Last Answer : (4) Adam Smith Explanation: Adam Smith is best known for two classic works: The Theory of Moral Sentiments (1759), and An Ingully into the Nature and Causes of the Wealth of Nations (1776 ... father of modern economics and is still among the most influential thinkers in the field of economics today.

The ‘Canons of Taxation’ were propounded by (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton

Description : The ‘Canons of Taxation’ were propounded by (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton

Last Answer : Adam Smith

The term ‘Macro Economics’ was used by __________ . (1) J.M. Keynes (2) Ragner Frisch (3) Ragner Nurkse (4) Prof. Knight

Description : The term ‘Macro Economics’ was used by __________ . (1) J.M. Keynes (2) Ragner Frisch (3) Ragner Nurkse (4) Prof. Knight

Last Answer : Ragner Frisch

The book which is at the centrepiece of the study of Macro - Economics was written by (1) Prof. Samuelson (2) Prof. J.M. Keynes (3) Prof. Benham (4) Prof. Baumol

Description : The book which is at the centrepiece of the study of Macro - Economics was written by (1) Prof. Samuelson (2) Prof. J.M. Keynes (3) Prof. Benham (4) Prof. Baumol

Last Answer : Prof. J.M. Keynes

The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs (1) J.M.Keynes (2) Ohlin (3) J.B.Say (4) Galbraith

Description : The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs (1) J.M.Keynes (2) Ohlin (3) J.B.Say (4) Galbraith

Last Answer : J.B.Say

Who is called the Father of Economics? (1) J.M. Keynes (2) Malthus (3) Ricardo (4) Adam Smith

Description : Who is called the Father of Economics? (1) J.M. Keynes (2) Malthus (3) Ricardo (4) Adam Smith 

Last Answer : Adam Smith

Who among the following is not a classical economist? (1) David Ricardo (2) John Stuart Mill (3) Thomas Malthus (4) John Maynard Keynes

Description : Who among the following is not a classical economist? (1) David Ricardo (2) John Stuart Mill (3) Thomas Malthus (4) John Maynard Keynes

Last Answer : (4) John Maynard Keynes Explanation: Classical economics is widely regarded as the first modern school of economic thought. Its major developers include Adam Smith, Jean-Baptiste Say, David ... affected the theory and practice of modern macroeconomics and formed the economic policies of governments.

Who among the following is not a classical economist? (1) David Ricardo (2) John Stuart Mill (3) Thomas Malthus (4) John Maynard Keynes

Description : Who among the following is not a classical economist? (1) David Ricardo (2) John Stuart Mill (3) Thomas Malthus (4) John Maynard Keynes 

Last Answer : John Maynard Keynes

Who developed the Game Theory a. J.R. Hicks b. William J. Baumol c. Neumann Morgenstern d. Samuelson P.T.

Description : Who developed the Game Theory a. J.R. Hicks b. William J. Baumol c. Neumann Morgenstern d. Samuelson P.T.

Last Answer : c. Neumann Morgenstern

Who discovered the Gamma Rays? A. Alfred Marshall B. Paul Villard (Answer) C. Bohar D. Jabar bin Hayan

Description : Who discovered the Gamma Rays? A. Alfred Marshall B. Paul Villard (Answer) C. Bohar D. Jabar bin Hayan

Last Answer : B. Paul Villard (Answer)

Traditional approach to law of Demand was propounded by (a) Giffen ; (b) A Samulson ; (c) Alfred Marshall ; (d) Pique

Description : Traditional approach to law of Demand was propounded by (a) Giffen ; (b) A Samulson ; (c) Alfred Marshall ; (d) Pique

Last Answer :  (c) Alfred Marshall ;

Who is credited for the concept that there could be equilibrium in an economy at less than full employment also ? (a) J.B. Say(b) Keynes(c) Fisher(d) Milton Friedman

Description : Who is credited for the concept that there could be equilibrium in an economy at less than full employment also ? (a) J.B. Say (b) Keynes (c) Fisher (d) Milton Friedman

Last Answer : (a) J.B. Say

J. B. Say's Law of Market was not accepted by - (1) Adam Smith (2) Marshall (3) Malthus (4) David Ricardo

Description : J. B. Say's Law of Market was not accepted by - (1) Adam Smith (2) Marshall (3) Malthus (4) David Ricardo

Last Answer : (2) Marshall Explanation: Malthus opposed what has come to be described as Say's Law: that supply creates its own demand. He rejected the proposition that the demand for ... productivity increased significantly, demand would not necessarily match supply and gluts of commodities might result.

Who said 'Supply creates its own demand'? (1) Adam Smith (2) J.B.Saw (3) Marshall (4) Ricardo

Description : Who said 'Supply creates its own demand'? (1) Adam Smith (2) J.B.Saw (3) Marshall (4) Ricardo

Last Answer : (2) J.B.Saw Explanation: "Supply creates its own demand" is the formulation of Say's law by John Maynard Keynes. The rejection of this doctrine is a central component of The General Theory of ... when there are too many means of production applied to one kind of product and not enough to another

J. B. Say’s Law of Market was not accepted by : (1) Adam Smith (2)Marshall (3) Malthus (4) David Ricardo

Description : J. B. Say’s Law of Market was not accepted by : (1) Adam Smith (2)Marshall (3) Malthus (4) David Ricardo

Last Answer : Marshall

Who said ‘Supply creates its own demand’? (1) Adam Smith (2) J.B.Saw (3) Marshall (4) Ricardo

Description : Who said ‘Supply creates its own demand’? (1) Adam Smith (2) J.B.Saw (3) Marshall (4) Ricardo

Last Answer : J.B.Saw

The General Equilibrium Analysis" was developed by - (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith

Description : The General Equilibrium Analysis" was developed by - (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith

Last Answer : (3) Walras Explanation: French economist Leon Walras put forward the General Equilibrium Theory in his pioneering 1874 work 'Elements of Pure Economics'. The theory attempts to explain the functioning of ... tried to show how and why all free markets tended toward equilibrium in the long run.

”The General Equilibrium Analysis” was developed by (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith

Description : ”The General Equilibrium Analysis” was developed by (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith

Last Answer : Walras