Who is called the father of macroeconomics?
- Alfred Marshall
- John Maynard Keynes
- Adam Smith
- Leon Walras
×
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.
Name the economist who gave the theory of “Comparative Advantage.”
- Adam Smith
- David Ricardo
- Thomas Robert Malthus
- Amartya Sen
×
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.
Fundamental Rights are described in which articles of Indian Constitution?
- Article 12 to 35
- Article 14 to 32
- Article 14 to 35
- Article 12 to 32
×
Article 12 to 35 contained in Part III of the Constitution deals with Fundamental Rights.
________ 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
×
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.
What type of economy is followed in India?
- Traditional Economy: Economic system based on goods, services, and work, all of which follow certain established trends.
- Command Economy: A dominant centralized authority – usually the government – that controls a significant portion of the economic structure.
- Market Economy: Economic system based on the concept of free markets.
- Mixed Economy: Economic system that combine the characteristics of the market and command economic systems.
×
A mixed economic system is a system that combines aspects of both capitalism and socialism. This means that some industries are controlled by private businesses and individuals, while other industries are controlled by the government.
