Top 100+ Indian Economy Multiple Choice Questions and Answers - 2

Question: 6

_____ is a tabular statement showing how much of a commodity demanded at different prices.

(A) Production schedule

(B) Supply schedule

(C) Price schedule

(D) Demand schedule

Question: 7

_____ discovered that the poor people will demand more of inferior goods if their prices rise and demand less if their prices fall.

(A) Alfred Marshall

(B) Keynes

(C) Sir Robert Giffen

(D) Veblen

Question: 8

When the demand is _____ the producer will produce more goods to take the advantage of higher prices.

(A) Elastic

(B) Inelastic

(C) Perfectly elastic

(D) Perfectly inelastic

Question: 9

_____ developed the liquidity preference theory of interest.

(A) J.M. Keynes

(B) Bohm-Bawerk

(C) Kunt Wicksell

(D) Schumpeter

Question: 10

The great depression occurred in the year _____

(A) 1829

(B) 1830

(C) 1929

(D) 1930