261. Who coined the phrase “demonstration effect”?
(A) Restow
B) G. Myrdal
(C) James Duessenberry
(D) R. Nurkse
262. The capital-output ratio is determined by:
(A) Sectoral allocation of capital
(B) Level of economic activity
(C) Human and Natural resources
D) All of these*
263. An ISO-product curve slopes:
(A) Downward to the left
(B) Downward to the right
(C) Upward to the left
D) Upward to the right*
264. Who is the author of “Capitalism yesterday and today”?
(A) Karl Marx
B) M. Dobb
(C) J.A. Schum peter
(D) J.K. Galbraith
265. Who first formulated the marginal productivity theory of distribution?
A) J.B. Clark
(B) F.H. Knight
(C) J.A. Schumpeter
(D) L. Euler
266. The Cambridge school refers to the group of English economists who came under the influence of:
A) Alfred Marshall
(B) J.M. Keynes
(C) E.H. Chamberlin
(D) D.H. Robertson
267. In which year was Paul A. Samuelson awarded the Nobel prize in Economics?
A) 1970
(B) 1968
(C) 1966
(D) 1964
268. Which is the oldest organization among the four?
A) ILO 1919
(B) FAO 1945
(C) WHO 1948
(D) IMF 1945 Dec 27
269. When was the Organization of Petroleum Exporting Countries (OPEC) formed to control the production and pricing of crude oil?
(A) 1956
(B) 1958
C) 1960
(D) 1962
270. A mixed economy is characterized by the coexistence of:
(A) Modern and traditional industries
B) Public and private sector
(C) Foreign and domestic investment
(D) Commercial and subsistence farming
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