A. W. Arthur Lewis
B. Theodore Schultz
C. Both a and b
D. None
Related Mcqs:
- “Economics is the study of causes of material welfare” was defined by___________________?
A. Adam Smith
B. Marshall
C. Robins
D. Marks - The branch of economics which analyze govt. revenues and expenditures is__________________?
A. Public revenue
B. Public finance
C. Public good
D. None - A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?
A. Macroeconomic
B. Micro economic
C. Positive economic
D. Normative economic - In________________ economics we look at desirability of certain aspects of the economy ?
A. Theoretical
B. Positive
C. Normative
D. None - An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?
A. Increasing cost industry
B. Decreasing cost industry
C. Declining industry
D. None of these - An analytic approach in which we move from general to particular from theory to facts is_________________?
A. Induction
B. Deduction
C. Specification
D. None - Opportunity cost is illustrated by the___________________?
A. Steep slope
B. Downward slope
C. Positive slope
D. None - Failure to achieve full production is called ?
A. Unemployment
B. Under employment
C. Unplanned
D. None - The extreme case of physical resource endowment is ________________?
A. Gulf oil states
B. United states America
C. USSR
D. South Africa - The payment for the use of borrowed funds _____________?
A. Interest
B. Loan
C. Both
D. None
