Wealth of an Economy

Q.

Who is the "Father of Economics"?

1. Adam Smith

2. John Maynard Keynes

3. John Stuart Mill

4. Alfred Marshall

Q.

What Are the 3 Laws of Economics?

Q. Who is known as father of Economics?

1. Samuelson
2. Adam Smith
3. Robins
4. Marshall

Q. Who is known as the father of economics?

1. Lionel Robbins
2. Adam Smith
3. Charles Darwin
4. None of these

Q. is the "Father of Economics".

1. Alfred Marshall
2. Adam Smith
3. John Maynard Keynes
4. John Stuart Mill

Q.

Which of the following books is authored by Adam Smith?

1. Wealth of Nations

2. Why Nations Fail

3. The Economic Consequences of Peace

4. Small is Beautiful

Q.

The "Wealth of a Nation" can be best described as:

1. The amount of gold in the domestic economy

2. The amount of forex reserves with the central bank of the economy

3. The productive capacity of the economy

4. The amount of goods and services produced in the economy

Q. Explain the concepts of positive and normative economics with illustrations.

Q.

Which of these economists came up with the modern concept of GDP?

1. Paul Romer

2. Robert Solow

3. Adam Smith

4. Simon Kuznets

Q. ______________ is considered as the father of modern economics.

1. Bernard show
2. Adam Smith
3. Alfred Marshall
4. None of the above

Q. During the eighteenth and the early part of nineteenth century, Adam Smith, considered to be the father of modern economics, along with economist(s) like ____________, suggested that economics is wealth oriented.
X. Alfred Marshall
Y. J. B. Say
Z. F.A. Walker
Select the correct answer from the options given below -

1. X & Y
2. X, Y & Z
3. Y only
4. Y & Z

Q. Match the pairs.

	Group "A"		Group "B"
(1)	Adam Smith	(a)	Principles of Economics
(2)	Micro Economics	(b)	Aggregates
(3)	Macro Economics	(c)	Prof. Boulding
(4)	Dr. Marshall	(d)	Father of Economics
(5)	Theory of Welfare	(e)	Individual Units
		(f)	Economic Efficiency

Q. Distinguish between positive and normative economics.

Q. Who is called the Father of Economics?

1. J M Keynes
2. Malthus
3. Adam Smith
4. Ricardo

Q. Microeconomics and macroeconomics approaches are ______.

1. competitive
2. alternative
3. substitutes
4. complementary

Q. __________ defined economics as "An enquiry into the nature and causes of the wealth of nations".

1. Ricardo
2. Alfred Marshall
3. Keynes
4. Adam Smith

Q. When we go from general assumptions to particular statements which method is being used for constructing an economic theory?

1. Deductive method
2. Inductive method
3. Partial method
4. General method

Q. Who wrote the book "Principles of Economics"?

1. Adam Smith
2. Alfred Marshall
3. Lionel Robbins
4. None of the above

Q.

Q. Welfare definition of economics was propounded by Alfred Marshall and supported by economists like-
(I) A.C. Pigou
(II) J.M.Keynes
(III) Lionel Robbins
Select the correct answer from the options given below-

1. (III) only
2. (I) and (II)
3. (I) only
4. (II) only

Q. The famous book of Adam Smith is _____.

1. An Inquiry into the Nature and Causes of the Wealth of Nations
2. An Essay on the Nature and Significance of Economic Science
3. The Economic Consequences of the Peace
4. Principles of Economics

Q. The difference between the positive and normative approach in economics is that ___________.

1. all of the above
2. positive economic start with statement in affirmative mode whereas normative in negative mode
3. positive economic concerns matter of fact, whereas normative concerns matter of opinion
4. in positive economic answer is yes whereas in normative there is no answer to the problem

Q. Who is considered to be founding father of economics?

1. George Bernard Shaw
2. A.C. Pigou
3. Adam Smith
4. Alfred Marshall

Q. The book "Wealth of Nations" is written by?

1. Adam Smith
2. Lionel Robbins
3. Charles Darwin
4. J. S. Mill

Q. Alfred Marshall published his book, "Principles of Economics" in _________.

1. 1690
2. 1790
3. 1890
4. 1990

Q. __________ economics explains economic phenomena according to their causes and effects.

1. Positive
2. Empirical
3. Normative
4. Applied

Q. Who defined economics as "Science which deals with wealth"?

1. Amritya Sen.
2. Samuelson.
3. JB Say.
4. Adam Smith.

Q. Match the following:
(i) Nature and Causes of wealth of Nations (A) Lionel Robbins
(ii) Science of Material welfare (B) 1776
(iii) Science of Scarcity (C) Paul Samuelson
(iv) Science of growth and development (D) Dr. Alfred Marshall

1. i (B), ii (D), iii(A), iv(C)
2. i (A), ii (B), iii(C), iv(D)
3. i (D), ii (C), iii(D), iv(A)
4. i (C), ii (A), iii(D), iv(B)

Q. Lionel Robbins has offered the most scientific definition in his famous book, titled "_______________".

1. An Essay on the Nature and Causes of the Wealth of Nations
2. An Essay on the Principles of Economics
3. An Essay on the Nature and Significance of Economic Science
4. An Enquiry into the Nature and Cause of the Wealth of Nations

Q.