Economics MCQs

Page No. 444

In economics, the pleasure, happiness, or satisfaction received from a product is called ______?


amarginal cost


brational outcome


cstatus fulfillment


dutility


View Answer utility

For economists, the word “utility” means:


aversatility and flexibility


brationality


cpleasure and satisfaction


dpurposefulness



Who is called the father of Economics?


aJ.P Kense


bDavid Ricordo


cAdam Smith


dMankew


View Answer Adam Smith

One percentage decrease in unemployment is associated with two percentage points of additional growth in real gdp is called?


aOkun’s Law


bclassical theory


cConsumer price index


dnone of the above


View Answer Okun’s Law

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