For economists, statements about the world are of two types:

Related MCQs

• To avoid double counting when GDP is estimated, economists:
• According to classical economists, variations in savings are due to:
• Which one of the following economists introduced the principle of “Maximum Social Advantage”?
• Economists use the term shocks to mean
• Consider the following statements: 1. In a Capitalist economy there is private ownership of means of production 2. In a communist nation, the means of production are owned by the State 3. In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?
• Consider the following statements and identify the right ones. i. While calculating GNP, income generated by foreigners in a country is taken into consideration ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account
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• The two most important American business cycle events of the twentieth century were