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Economic Environment

Match the fol...

Question

Match the following :
Group "A" Group "B"
(1) Inflation and recession (a) Father of Modern Economics
(2) Resource allocation (b) Micro Economics
(3) Ragner Frisch (c) Oslo University
(4) J.M. Keynes (d) Macro economics
(5) Alfred Marshall (e) Wealth of Nations
(f) Factor - pricing

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Solution

GROUP A GROUP B RELATIONSHIP
INFLATION AND RECESSION MACROECONOMICS macroeconomics takes into consideration issues such as inflation and recession.
RESOURCE ALLOCATION MICROECONOMICS microeconomics takes into account the resource allocation
RAGNER FRISCH OSLO UNIVERSITY Ragner studied in university of Oslo.

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Q. State whether the following statements are TRUE or FALSE.

1) Dr. Marshall is known as the Father of Economics.

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1) The terms Micro and Macro Economics were first used by _______________. (Adam Smith/ Robbins/ Ragner Frisch/ Marshall).

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