Indicate the contribution of J M Keynes to economics

(a)

Wealth of Nations

(b)

General Theory

(c)

Capital

(d)

Public Finance

Assertion: In a mixed economy, all the resources are owned and operated by the government.
Reason: Public welfare is the main motive behind all economic activities in mixed economy.

(a)

Both A and R are true and R is the correct explanation of A.

(b)

Both A and R are true but R is not the correct explanation of A.

(c)

A is true but R is false.

(d)

Both A and R are false.

The value of national income adjusted for inflation is called_________

(a)

Inflation Rate

(b)

Disposal Income

(c)

GNP

(d)

Real national income

GDP Deflator is also called as:

(a)

Implicit Cost Deflator

(b)

GDP at Factor Cost

(c)

Implicit Wage Deflator

(d)

Implicit Price Deflator

Keynes theory emphasized on________ equilibrium

(a)

Very short run

(b)

Short run

(c)

Very long run

(d)

Long run

In an open economy import _________ the value of the multiplier

(a)

Reduces

(b)

increase

(c)

does not change

(d)

changes

Assertion: A country can gain from trade when it produces at relatively lower costs.
Reason: When a country enjoys an absolute advantage in both goods, the country would specialize in the production and export of those goods which are relatively more advantageous.

(a)

Both (A) and (R) are true and (R) is the correct explanation of (A)

(b)

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

(c)

(A) is true, but (R) is false

(d)

(A) is false, but (R) is true

The GATT was transformed into WTO on ________.

(a)

1995

(b)

1965

(c)

1975

(d)

1985

Eutrophication______________the oxygen in water which negatively affects fish and other aquatic animal population

(a)

inflates

(b)

depletes

(c)

increases

(d)

keeps

Arrange following plans in correct chronological order
(i) People's Plan
(ii) Bombay Plan
(iii) Jawaharlal Nehru Plan
(iv) Vishveshwarya Plan

(a)

(i) (ii) (iii) (iv)

(b)

(iv) (iii) (ii) (i)

(c)

(i) (ii) (iv) (iii)

(d)

(ii) (i) (iv) (iii)