Joseph Schumpeter is the exceptional economist who links the entrepreneur to ?

Related Mcqs:

1. The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

   A. have few substitutes.
   B. are normal goods
   C. have few complementary goods.
   D. have many complementary goods.

2. Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?

   A. None of these answers
   B. Disagree because they have different scientific judgments
   C. really don’t disagree at all. It just appears that they disagree
   D. disagree because they have different values

3. Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

   A. really don’t disagree at all It just appears that they disagree.
   B. disagree because they have different values.
   C. none of these answers.
   D. disagree because they have different scientific judgments.

4. The entrepreneur can be viewed as the ?

   I- coordinator of other production resources
   II- decision maker under uncertainty
   III- innovator
   IV- gap filler and input completer

   1. I and II only
   2. II and III only
   3. I, II and only
   4. I, II, III and IV

5. Fundamentalists want the IMF to lend to crisis-stricken countries on condition that they undertake fundamental structural reforms in banking Joseph Stiglitz however thinks it is______________?

   A. unrealistic for IMF to intervene in the financial markets of poor countries during the crisis
   B. impractical for the IMF to loan short term as reforms can only be effective in the middle to long run
   C. crucial that the IMF intervene in the reform of fiscal policy of the country and not the monetary policy
   D. None of the statements above is correct

6. Which of the following is not an assumption of Schumpeter’s stationary state ?

   A. Perfect competition
   B. An economy below full employment
   C. No savings or technical change
   D. No entrepreneurial function is required

7. According to Schumpeter ?

   A. Monopolies are inefficient
   B. Monopoly profits ac as an incentive for innovation
   C. Monopolies are alocatively efficient
   D. Monopolies are productively efficient

8. Successful service companies focus their attention on both their customers and their employees they understand ________ which links service firm profits with employee and customer satisfaction ?

   A. internal marketing
   B. service-profit chains
   C. interactive marketing
   D. service differentiation

9. Trimmu Sindhnai link canal links the Chenab with ?

   A. Jhelum
   B. Ravi
   C. Chenab
   D. None of these

10. Keynesian economics is an economic theory of British economist John Maynard. What this theory states ?

    A. A free market is necessary for economic growth and stability
    B. Regulation is necessary for economic growth and stability
    C. Active government intervention is necessary to ensure economic growth and stability
    D. Government intervention is not necessary to ensure economic growth and stability