When the method of Statics is called upon to study a changing process, it is referred to as the method of:

Related MCQs

• Inductive method which also called empirical method was adopted by the:
• In which of the following situations will an increase in the money supply have no effect upon output?
• Adam Smith, the father of modern economic theory, defined economics as a subject, which is mainly concerned with the study of nature and causes of generation of ______
• _________ introduced the concept of welfare in the study of economics:
• The subject matter of economics is the study of:
• Consumption of capital good in the process of production is called as
• The deductive method is also called
• Which method is used by Hicks to eliminate the income effect when price of a product is changed
• Investment is reckoned by which method for computing GDP:
• The ________ method consists in deriving conclusions from general truths, takes few general principles and applies them draw conclusions.