Economics

Who is considered the founder of Micro Economics

• Adam smith

• John Keynes

• Friedrich Hayek

• Milton Friedman

Who is considered the founder of modern Macroeconomics

• Adam Smith

• John Keynes

• Friedrich Hayek

• Milton Friedman

The fundamental concept of Economics about resources is that the resources are

• Equally distributed

• Unequally distributed

• Scarce

• Unlimited

Goods produced to produce yet other goods is called

• Final goods

• Capital

• Investment

• Resources

Which economic term is used to represent inequality in income distribution

• GDP

• GNP

• Gini

• HDI

The value of the good and service forgone by choosing another investment is called

• Opportunity Cost

• Purchasing Power Parity

• Disposable income

• Consumer price index

The central role of markets is to determine the

• Quality of goods

• Quantity of goods

• Level of income

• Price of goods

The branch of Economics concerned with overall performance of the economy is known as

• Micro economics

• Macro economics

• Econometrics

• Keynesian Economics

The branch of Economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as

• Micro economics

• Macro economics

• Econometrics

• Keynesian Economics

Which from the following are the results of imperfect competition in the markets

• Monopolies

• Externalities

• Public goods

• All of the above