Who is often referred to as the “father of modern economics”?
a) Adam Smith
b) John Maynard Keynes
c) Karl Marx
d) Milton Friedman
Answer: a) Adam Smith
Which British economist is known for his work on the theory of comparative advantage?
a) John Stuart Mill
b) David Ricardo
c) Alfred Marshall
d) Thomas Malthus
Answer: b) David Ricardo
Who developed the concept of the “liquidity trap” in economics?
a) John Maynard Keynes
b) Adam Smith
c) Friedrich Hayek
d) Karl Marx
Answer: a) John Maynard Keynes
Which British economist is known for his contributions to the theory of money and banking?
a) John Stuart Mill
b) David Ricardo
c) John Maynard Keynes
d) John Hicks
Answer: d) John Hicks
Who introduced the concept of the “Phillips Curve” in economics?
a) Alfred Marshall
b) John Maynard Keynes
c) A.W. Phillips
d) Thomas Malthus
Answer: c) A.W. Phillips
Which British economist is known for his work on the theory of utility and consumer behavior?
a) Adam Smith
b) John Stuart Mill
c) Alfred Marshall
d) David Ricardo
Answer: b) John Stuart Mill
Who is famous for his book “The Wealth of Nations,” published in 1776?
a) John Maynard Keynes
b) Adam Smith
c) Karl Marx
d) Milton Friedman
Answer: b) Adam Smith
Which British economist is known for his work on the theory of value and distribution?
a) Alfred Marshall
b) David Ricardo
c) John Maynard Keynes
d) Thomas Malthus
Answer: b) David Ricardo
Who is known for his influential book “The General Theory of Employment, Interest, and Money?
a) Adam Smith
b) John Maynard Keynes
c) Karl Marx
d) Friedrich Hayek
Answer: b) John Maynard Keynes
Which British economist is associated with the concept of “diminishing marginal utility”?
a) John Stuart Mill
b) David Ricardo
c) Alfred Marshall
d) Thomas Malthus
Answer: c) Alfred Marshall
Who is known for his book “The Road to Serfdom,” which criticizes central planning and advocates for free markets?
a) John Maynard Keynes
b) Friedrich Hayek
c) Karl Marx
d) Adam Smith
Answer: b) Friedrich Hayek
Which British economist is known for his work on the theory of capital and interest rates?
a) John Stuart Mill
b) David Ricardo
c) John Maynard Keynes
d) Alfred Marshall
Answer: a) John Stuart Mill
Who developed the concept of “creative destruction” in economics?
a) Thomas Malthus
b) David Ricardo
c) Joseph Schumpeter
d) Karl Marx
Answer: c) Joseph Schumpeter
Which British economist is known for his work on the theory of inflation and its causes?
a) John Maynard Keynes
b) Alfred Marshall
c) Thomas Malthus
d) David Ricardo
Answer: c) Thomas Malthus
Who is known for his theory of “perfect competition” in economics?
a) Alfred Marshall
b) John Stuart Mill
c) Karl Marx
d) Adam Smith
Answer: a) Alfred Marshall
Which British economist is known for his work on the theory of production and costs?
a) John Maynard Keynes
b) David Ricardo
c) Thomas Malthus
d) Alfred Marshall
Answer: d) Alfred Marshall
Who is known for his concept of “comparative cost advantage” in international trade?
a) David Ricardo
b) John Maynard Keynes
c) Adam Smith
d) Karl Marx
Answer: a) David Ricardo
Which British economist is associated with the concept of “ceteris paribus” in economic analysis?
a) John Stuart Mill
b) Alfred Marshall
c) David Ricardo
d) Thomas Malthus
Answer: a) John Stuart Mill
Who is known for his book “The General Theory of Employment, Interest, and Money,” which influenced economic policies during the Great Depression?
a) Adam Smith
b) John Maynard Keynes
c) Friedrich Hayek
d) Karl Marx
Answer: b) John Maynard Keynes
Which British economist is known for his work on the theory of utility and consumer behavior?
a) Adam Smith
b) John Stuart Mill
c) Alfred Marshall
d) David Ricardo
Answer: b) John Stuart Mill
Who is famous for his book “The Wealth of Nations,” published in 1776?
a) John Maynard Keynes
b) Adam Smith
c) Karl Marx
d) Milton Friedman
Answer: b) Adam Smith
Which British economist is known for his contributions to the theory of money and banking?
a) John Stuart Mill
b) David Ricardo
c) John Maynard Keynes
d) John Hicks
Answer: d) John Hicks
Who introduced the concept of the “Phillips Curve” in economics?
a) Alfred Marshall
b) John Maynard Keynes
c) A.W. Phillips
d) Thomas Malthus
Answer: c) A.W. Phillips
Which British economist is known for his work on the theory of value and distribution?
a) Alfred Marshall
b) David Ricardo
c) John Maynard Keynes
d) Thomas Malthus
Answer: b) David Ricardo
Who is known for his influential book “The General Theory of Employment, Interest, and Money”?
a) Adam Smith
b) John Maynard Keynes
c) Karl Marx
d) Friedrich Hayek
Answer: b) John Maynard Keynes
Which British economist is associated with the concept of “diminishing marginal utility”?
a) John Stuart Mill
b) David Ricardo
c) Alfred Marshall
d) Thomas Malthus
Answer: c) Alfred Marshall
Who is famous for his book “The Road to Serfdom,” which criticizes central planning and advocates for free markets?
a) John Maynard Keynes
b) Friedrich Hayek
c) Karl Marx
d) Adam Smith
Answer: b) Friedrich Hayek
Which British economist is known for his work on the theory of capital and interest rates?
a) John Stuart Mill
b) David Ricardo
c) John Maynard Keynes
d) Alfred Marshall
Answer: a) John Stuart Mill
Who developed the concept of “creative destruction” in economics?
a) Thomas Malthus
b) David Ricardo
c) Joseph Schumpeter
d) Karl Marx
Answer: c) Joseph Schumpeter
Which British economist is known for his work on the theory of inflation and its causes?
a) John Maynard Keynes
b) Alfred Marshall
c) Thomas Malthus
d) David Ricardo
Answer: c) Thomas Malthus
Who is known for his theory of “perfect competition” in economics?
a) Alfred Marshall
b) John Stuart Mill
c) Karl Marx
d) Adam Smith
Answer: a) Alfred Marshall
Which British economist is known for his work on the theory of production and costs?
a) John Maynard Keynes
b) David Ricardo
c) Thomas Malthus
d) Alfred Marshall
Answer: d) Alfred Marshall
Who is known for his concept of “comparative cost advantage” in international trade?
a) David Ricardo
b) John Maynard Keynes
c) Adam Smith
d) Karl Marx
Answer: a) David Ricardo
Which British economist is associated with the concept of “ceteris paribus” in economic analysis?
a) John Stuart Mill
b) Alfred Marshall
c) David Ricardo
d) Thomas Malthus
Answer: a) John Stuart Mill
Who is known for his book “The General Theory of Employment, Interest, and Money,” which influenced economic policies during the Great Depression?
a) Adam Smith
b) John Maynard Keynes
c) Friedrich Hayek
d) Karl Marx
Answer: b) John Maynard Keynes
Which British economist is known for his work on the theory of utility and consumer behavior?
a) Adam Smith
b) John Stuart Mill
c) Alfred Marshall
d) David Ricardo
Answer: b) John Stuart Mill
Who is famous for his book “The Wealth of Nations,” published in 1776?
a) John Maynard Keynes
b) Adam Smith
c) Karl Marx
d) Milton Friedman
Answer: b) Adam Smith
Which British economist is known for his contributions to the theory of money and banking?
a) John Stuart Mill
b) David Ricardo
c) John Maynard Keynes
d) John Hicks
Answer: d) John Hicks
Who introduced the concept of the “Phillips Curve” in economics?
a) Alfred Marshall
b) John Maynard Keynes
c) A.W. Phillips
d) Thomas Malthus
Answer: c) A.W. Phillips
Which British economist is known for his work on the theory of value and distribution?
a) Alfred Marshall
b) David Ricardo
c) John Maynard Keynes
d) Thomas Malthus
Answer: b) David Ricardo
Who is known for his influential book “The General Theory of Employment, Interest, and Money”?
a) Adam Smith
b) John Maynard Keynes
c) Karl Marx
d) Friedrich Hayek
Answer: b) John Maynard Keynes
Which British economist is associated with the concept of “diminishing marginal utility”?
a) John Stuart Mill
b) David Ricardo
c) Alfred Marshall
d) Thomas Malthus
Answer: c) Alfred Marshall
Who is famous for his book “The Road to Serfdom,” which criticizes central planning and advocates for free markets?
a) John Maynard Keynes
b) Friedrich Hayek
c) Karl Marx
d) Adam Smith
Answer: b) Friedrich Hayek
Which British economist is known for his work on the theory of capital and interest rates?
a) John Stuart Mill
b) David Ricardo
c) John Maynard Keynes
d) Alfred Marshall
Answer: a) John Stuart Mill
Who developed the concept of “creative destruction” in economics?
a) Thomas Malthus
b) David Ricardo
c) Joseph Schumpeter
d) Karl Marx
Answer: c) Joseph Schumpeter
Which British economist is known for his work on the theory of inflation and its causes?
a) John Maynard Keynes
b) Alfred Marshall
c) Thomas Malthus
d) David Ricardo
Answer: c) Thomas Malthus
Who is known for his theory of “perfect competition” in economics?
a) Alfred Marshall
b) John Stuart Mill
c) Karl Marx
d) Adam Smith
Answer: a) Alfred Marshall
Which British economist is known for his work on the theory of production and costs?
a) John Maynard Keynes
b) David Ricardo
c) Thomas Malthus
d) Alfred Marshall
Answer: d) Alfred Marshall
Who is known for his concept of “comparative cost advantage” in international trade?
a) David Ricardo
b) John Maynard Keynes
c) Adam Smith
d) Karl Marx
Answer: a) David Ricardo
Which British economist is associated with the concept of “ceteris paribus” in economic analysis?
a) John Stuart Mill
b) Alfred Marshall
c) David Ricardo
d) Thomas Malthus
Answer: a) John Stuart Mill
