CSS :: Nature and Scope of Economics
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| 1. |
Father of political economy: |
| A. |
Adam Smith |
B. |
Malthus |
| C. |
Marshall |
D. |
Samuelson |
Answer: Option A
Explanation:
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| 2. |
He described economics as a science of material welfare: |
| A. |
Robbins |
B. |
Marshall |
| C. |
Ricardo |
D. |
Keynes |
Answer: Option B
Explanation:
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| 3. |
Economic laws are: |
| A. |
Exact |
B. |
Approximate |
| C. |
Brief |
D. |
Definite |
Answer: Option B
Explanation:
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| 4. |
Economic laws are: |
| A. |
Scientific |
B. |
Moral |
| C. |
Natural |
D. |
Unreal |
Answer: Option A
Explanation:
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| 5. |
Economics is a science: |
| A. |
Spiritual |
B. |
Social |
| C. |
Dismal |
D. |
Moral |
Answer: Option B
Explanation:
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| 6. |
Economic problems arise because of: |
| A. |
Greed |
B. |
Scarcity |
| C. |
Dishonesty |
D. |
Laziness |
Answer: Option B
Explanation:
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| 7. |
Which statement relates to macroeconomics: |
| A. |
Oil prices are rising in Pakistan |
B. |
Profit rate is high in textile industry |
| C. |
The firms try to make huge profits |
D. |
The government has failed to control inflation |
Answer: Option D
Explanation:
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| 8. |
Which statement is true? |
| A. |
Economics is a physical and normative science |
B. |
Economics is a social and natural science |
| C. |
Economics is physical and positive science |
D. |
Economics is a social and normative science |
Answer: Option D
Explanation:
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| 9. |
Ceteris paribus means: |
| A. |
Other things equal |
B. |
All variables are independent |
| C. |
Enable economists to simplify reality |
D. |
That no other assumptions are made |
Answer: Option A
Explanation:
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| 10. |
In economics, assumptions: |
| A. |
Make economic theory useless |
B. |
Mean other things equal |
| C. |
Enable economists to simplify reality |
D. |
Used in micro and not in macroeconomist |
Answer: Option C
Explanation:
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