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In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:

A. J.S.Mill

B. Adam Smith

C. Robert Malthus

D. David Ricardo

Correct Answer : B.


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  2. Revealed Preference Theory was presented by:
  3. Under monopolistic competition, in long-run there is:
  4. The general markets results from the imposition of price ceilings has been:
  5. The firm producing at the minimum point of the AC curve is said to be:
  6. If the commodity is normal then Income Effect (I.E) is:
  7. The production function of homogeneous of degree one (n=1) is also called:
  8. The goods sold by firms under monopolistic competition are technological as well as:
  9. Identify the author of The Affluent Society?
  10. Economic problems arise because:
  11. Who formulated the Post-Keynsian Theory of Distribution and Growth?
  12. In short-run, in monopolistic competition, a firm earns:
  13. In the long-run competitive equilibrium, the theory predicts that:
  14. The optimal strategy for a player is termed as:
  15. If at the unchanged price, the demand for a commodity goes up, or the quantity demanded remains the…
  16. Pure monopoly exists:
  17. The price under perfect competition is settled by:
  18. Which of the following pairs of commodities is an example of substitutes?
  19. If two goods have same marginal utility for a consumer then:
  20. The main contribution of Prof.Robbins is in the field of:
  21. Which of the following theories of trade cycle was presented by William Jevons?
  22. According to Marshallian approach, utility:
  23. The proportionality rule in production requires that the ratios of MP and factor prices are:
  24. The reaction curve of a firm is attained by joining the:
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  26. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
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  30. The demand curve of ostentation goods (Veblen goods) will be: