Question 1

The book Elements of Pure Economics was authored by

Accepted Answer

A)  walras
B)  clower
C)  robert lucas
D)  kaldorE) C) and D)
F) None of the above

Question 2

Supply side Economics was emerged against the background of

Accepted Answer

A)  1930's great depression
B)  2008 global financial crisis
C)  1970's stagflation
D)  none of theseE) A) and C)
F) All of the above

Question 3

New classical Economics is consistent with

Accepted Answer

A)  policy ineffectiveness postulate
B)  policy effectiveness postulate
C)  both a and b
D)  none of theseE) B) and C)
F) A) and B)

Question 4

The Laffer curve is associated with

Accepted Answer

A)  new classical economics
B)  supply side economics
C)  keynesian economics
D)  new keynesian economicsE) B) and D)
F) None of the above

Question 5

The dual decision hypothesis was given by

Accepted Answer

A)  clower
B)  crowther
C)  robert lucas
D)  wallrasE) C) and D)
F) B) and C) A

Question 6

According to Keynes, there is

Accepted Answer

A)  no direct relationship between the quantity of money and price level
B)  direct relationship between money and price level
C)  no direct relationship between demand for money and supply of money
D)  direct relationship between demand for money and supply of moneyE) None of the above
F) A) and C)

Question 7

"Interest is poorly a monetary phenomenon "is a very famous statement made by

Accepted Answer

A)  j m keynes
B)  hamilton
C)  friedman
D)  j b sayE) All of the above
F) A) and B)

Question 8

Assertion (A) : Long-run Philips curve is a vertical line at the NAIRU Reason (R) : Non-accelerating inflation raise of unemployment, more or less, stands accepted

Accepted Answer

A)  both (a)  and (r)  are false.
B)  both (a)  and (r)  are true, but (r)  is not the correct reason.
C)  both (a)  and (r)  are true, and (r)  is the explanation.
D)  (a)  is true, (r)  is false.E) None of the above
F) B) and C)

Question 9

The Neo Keynesian quantity constrained model is associated with the work of

Accepted Answer

A)  robert j barro
B)  robert m clower
C)  leonwalrs
D)  none of theseE) None of the above
F) B) and C) B

Question 10

The idea of rational expectation first given by

Accepted Answer

A)  john muth
B)  robert lucas
C)  neil wallace
D)  thomas surgentE) All of the above
F) B) and C)

Question 11

The concepts of inside money and outside money is given by

Accepted Answer

A)  milton friedman
B)  j m keynes
C)  gurley and shaw
D)  none of theseE) C) and D)
F) A) and C)

Question 12

The doctrine of Policy ineffectiveness postulate is associated with

Accepted Answer

A)  new classical economics
B)  supply side economics
C)  new keynesian economics
D)  monetarismE) A) and B)
F) All of the above

Question 13

The concept of Rational expectation is associated with

Accepted Answer

A)  natural rate of unemployment hypothesis
B)  new classical hypothesis
C)  both a and b
D)  none of theseE) C) and D)
F) A) and B)

Question 14

Which among the followings is not the feature of monetarism?

Accepted Answer

A)  fiscal policy causes no long-term increase in real output
B)  only a trade-off in the short-term
C)  tend to emphasis supply-side unemployment (natural rate) 
D)  demand- deficient unemployment big causesE) A) and D)
F) None of the above D

Question 15

Advocates of New classical Economics are

Accepted Answer

A)  robert lucas
B)  neil wallace
C)  thomas surgent
D)  all of the aboveE) B) and C)
F) A) and D)

Question 16

The quantity theory of money first propounded in 1588 by an Italian Economist

Accepted Answer

A)  david hume
B)  davanzatti
C)  j s mill
D)  ricardoE) A) and B)
F) B) and D)

Question 17

According to Keynes Investment is a function of

Accepted Answer

A)  dumping
B)  income
C)  saving
D)  interestE) None of the above
F) All of the above

Question 18

New Classical Economics is based on

Accepted Answer

A)  rational expectation
B)  adaptive expectation
C)  backward looking expectation
D)  all the aboveE) A) and B)
F) None of the above

Question 19

Which one the following economists is the chief advocate of supply side economics

Accepted Answer

A)  arther laffer
B)  robert lucas
C)  neil wallace
D)  both a and cE) B) and C)
F) A) and D)

Question 20

The idea of Adaptive expectation is associated with

Accepted Answer

A)  natural unemployment rate hypothesis
B)  new classical economics
C)  both a and b
D)  none of theseE) A) and B)
F) A) and C)

Exam 1: Macroeconomic Theory and Concepts

The book Elements of Pure Economics was authored by

Correct AnswerverifiedShow Answer

Supply side Economics was emerged against the background of

Correct AnswerverifiedShow Answer

New classical Economics is consistent with

Correct AnswerverifiedShow Answer

The Laffer curve is associated with

Correct AnswerverifiedShow Answer

The dual decision hypothesis was given by

Correct AnswerverifiedA

According to Keynes, there is

Correct AnswerverifiedShow Answer

"Interest is poorly a monetary phenomenon "is a very famous statement made by

Correct AnswerverifiedShow Answer

Assertion (A) : Long-run Philips curve is a vertical line at the NAIRU Reason (R) : Non-accelerating inflation raise of unemployment, more or less, stands accepted

Correct AnswerverifiedShow Answer

The Neo Keynesian quantity constrained model is associated with the work of

Correct AnswerverifiedB

The idea of rational expectation first given by

Correct AnswerverifiedShow Answer

The concepts of inside money and outside money is given by

Correct AnswerverifiedShow Answer

The doctrine of Policy ineffectiveness postulate is associated with

Correct AnswerverifiedShow Answer

The concept of Rational expectation is associated with

Correct AnswerverifiedShow Answer

Which among the followings is not the feature of monetarism?

Correct AnswerverifiedD

Advocates of New classical Economics are

Correct AnswerverifiedShow Answer

The quantity theory of money first propounded in 1588 by an Italian Economist

Correct AnswerverifiedShow Answer

According to Keynes Investment is a function of

Correct AnswerverifiedShow Answer

New Classical Economics is based on

Correct AnswerverifiedShow Answer

Which one the following economists is the chief advocate of supply side economics

Correct AnswerverifiedShow Answer

The idea of Adaptive expectation is associated with

Correct AnswerverifiedShow Answer

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A

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B

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D

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