Q. If external debt of country rises faster than its interest obligations, it is a case of:
✅ Correct Answer: (A)
Dept trap
Managerial Economics MCQs and Notes
Q. The economist who said that international trade was based upon the concept of absolute advantage was:
✅ Correct Answer: (B)
Adam Smith
Q. Dualism in development economics refers to
✅ Correct Answer: (C)
Co-existence of modern and traditional sectors
Q. When average product is falling, it is
✅ Correct Answer: (C)
Greater than the marginal product
Q. A fall in the price of a commodity leads to
✅ Correct Answer: (C)
A rise in the consumer’s real income
Q. Feudalistic economy is dominated by
✅ Correct Answer: (C)
Landlord
Q. Physiocrats give utmost importance to
✅ Correct Answer: (C)
Agriculture
Q. The Historical school was based on
✅ Correct Answer: (B)
Inductive method
Q. The book ‘Asian Drama’ was written by
✅ Correct Answer: (C)
Gunnar Myrdal