Who is known as the ‘Architecture of Indian Constitution’?
- Dr. B R Ambedkar
- Jawaharlal Nehru
- Sardar Vallabhbhai Patel
- Dr. Rajendra Prasad
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Because of his role in drafting the Constitution of India, Dr. Bhimrao Ambedkar is well known throughout India as the chief architect of the Indian Constitution.
Who is called the father of macroeconomics?
- Alfred Marshall
- John Maynard Keynes
- Adam Smith
- Leon Walras
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Macroeconomics as a modern discipline began with the publication of John Maynard Keynes's General Theory of Employment, Interest, and Money where he offered a new theory of economics that evolved into Keynesian economics.
By whom and when did the idea of a constituent assembly was first proposed
- Dr. Sachinand Sinha, 1949
- Dr. Rajendra Prasad, 1949
- Dr. B.R Ambedkar, 1946
- M.N. Roy, 1934
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The idea of a constituent assembly was first proposed in 1934 by M.N. Roy. However, the actual constituent assembly was formed in 1946 on the basis of the cabinet mission plan.
What was the comparative advantage theory of David Ricacrdo?
- When a country can produce a good or service at a lower opportunity cost than another country.
- Pursuit of self-interest, division of labor, and freedom of trade.
- A theory of free-market capitalism directly opposed to government intervention.
- A theory centers on entrepreneurship, knowledge, innovation and technological advancement.
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Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.
Who introduced the term state for the first time?
- Karl Marx
- Machiavelli
- Rousseau
- Jean Bodin
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The term ‘State’ in its modern sense was first used by Machiavelli. The State consists of four elements. These are (a) the people; (b) the territory; (c) the government and (d) sovereignty.
