100+ Economics Quiz Questions and Answers Pdf - 1

Question: 1

The author of liquidity preference theory is _____

(A) Samuelson

(B) Knight

(C) J.M. Keynes

(D) Marshall

Ans: C

J.M. Keynes

Question: 2

According to _____, wages are paid out of the residue that is left over after making payment of rent, interest and profits.

(A) Walker

(B) Marshall

(C) Hawley

(D) Adam Smith

Ans: A

Walker

Question: 3

The socialist economy is also known as _____ economy.

(A) Mixed

(B) Traditional

(C) Market

(D) Command

Ans: D

Command

Question: 4

According to Lionel Robbins economics is a _____ science.

(A) Natural

(B) Normative

(C) Physical

(D) Positive

Ans: D

Positive

Question: 5

The basic economic problems are common to _____

(A) Mixed economy

(B) Socialism

(C) Capitalism

(D) All the above

Ans: C

Capitalism

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