Top 100+ TNPSC Indian Economy Objective Questions and Answers 2019-2020 - 2

Question: 6

According to _____ theory, wages equal the whole product minus rent interest and profit.

(A) Modern theory of wages

(B) Wage fund theory

(C) Residual claimant theory

(D) Subsistence theory of wages

Question: 7

The indifference curve approach was introduced by

(A) Adam Smith

(B) Alfred Marshall

(C) Lionel Robbins

(D) J.R. Hicks and R.G.D Allen

Question: 8

_____ developed the concept of consumer’s surplus.

(A) Robbins

(B) Ricardo

(C) Adam Smith

(D) Marshall

Question: 9

The indifference curve approach was introduced by

(A) Adam Smith

(B) Alfred Marshall

(C) Lionel Robbins

(D) J.R. Hicks and R.G.D Allen

Question: 10

_____ developed the concept of consumer’s surplus.

(A) Ricardo

(B) Robbins

(C) Adam Smith

(D) Marshall