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This set of Basics of Economics Multiple Choice Questions & Answers (MCQs) focuses on Basics Of Economics Set 5

Q1 | Pick the odd one out:
Q2 | GDP deflator is given by:
Q3 | Value of output minus intermediate consumption is:
Q4 | Personal income minus personal taxes is:
Q5 | National income is a --------variable.
Q6 | In India, National income is estimated at:
Q7 | Which of the following is true:
Q8 | GNP measured in terms of current market prices is called:
Q9 | In India, the current base year is:
Q10 | Which of the following doest not include in the group?
Q11 | The term “Classical Economics” was first used by:
Q12 | Who is the leader of the Classical school?
Q13 | The core of classical economists is:
Q14 | ‘Law of Market’ is attributed to:
Q15 | The Classicals adopted ---------policy:
Q16 | According to Classicals, full employment is a:
Q17 | According to the Classical economists, general over production is:
Q18 | According to the Classical economists, savings and investments are:
Q19 | Classical aggregate supply curve is:
Q20 | Pick the odd one from the following:
Q21 | According to the Classicals, investment is a function of:
Q22 | “Supply creates its own demand” is called:
Q23 | Under the classical system, the equilibrium will be at:
Q24 | When savings exceeds the demand for savings, the rate of interest will:
Q25 | Rate of interest will increase when the demand for saving is: