_______ is the study of the behavior of individuals and firms in making decisions such as consumers, resource owners, and firms.
- Macroeconomics
- Neo-classical economics
- Microeconomics
- Monetarist economics
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Microeconomics is the study of the behavior of individuals and firms in making decisions such as consumers, resource owners, and firms.
Who proposed the steady-state theory?
- Hermann Bondi
- Thomas Gold
- Sir James Jeans
- Fred Hoyle
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The steady-state theory was first proposed by Sir James Jeans in the 1920s, but it was reformulated by Fred Hoyle, Thomas Gold, and Hermann Bondi in 1948.
Name the economist who gave the theory of “Comparative Advantage.”
- Adam Smith
- David Ricardo
- Thomas Robert Malthus
- Amartya Sen
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David Ricardo was a classical economist best known for his theory on wages and profit, the labor theory of value, the theory of comparative advantage, and the theory of rents.
________ implies that sustainable development should take a holistic approach towards notions of progress and give equal importance to non-economic aspects of wellbeing.
- National Happiness Index
- Psychological Wellbeing Index
- Living Standards Index
- Community Vitality Index
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Gross National Happiness (GNH), sometimes called Gross Domestic Happiness (GDH), it provides a way for the country to understand and enact progress based on the society's value of happiness.
Which article of the Indian Constitution describes it as rigid and flexible?
- Article 332
- Article 368
- Article 300
- Article 312
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Article 368 of the Indian Constitution provides for two types of amendments.
1. By a special majority of Parliament.
2. By a special majority of the Parliament with the ratification by half of the total states.
