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  • Question
  • Amartya Sen was awarded the Nobel Prize for his contribution to


  • Options
  • A. Monetary Economics
  • B. Welfare Economics
  • C. Environmental Economics
  • D. Development Economics

  • Correct Answer
  • Welfare Economics 

    Explanation

    Amartya   Sen,   Indian   economist who  was  awarded  the  1998  Nobel Prize  in  Economic  Sciences  for  his contributions  to  welfare  economics and social choice theory and for his interest    in    the    problems    of society's poorest members

  • Tags: Bank Exams

    Indian Economy problems


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    • 1. Which among the following sponsors Regional Rural Banks (RRB'S)?

    • Options
    • A. Reserve Bank of India
    • B. Foreign Banks
    • C. National Commercial Banks
    • D. Co-Operative Banks
    • Discuss
    • 2. The long run aggregate supply curve is vertical because

    • Options
    • A. there is no cyclical inflation
    • B. potential GDP is low
    • C. at full employment prices are stable
    • D. all of the above
    • Discuss
    • 3. The law of supply indicates that other things equal

    • Options
    • A. producers will offer more of a product at high prices than at low prices
    • B. the quantity supplied of the good rises
    • C. the quantity supplied of the good rises
    • D. producers will offer more of a product at high prices than at low prices
    • Discuss
    • 4. A large underground economy results in an

    • Options
    • A. Overstated GDP
    • B. Understated GDP price index
    • C. Overstated GDP price index
    • D. Understated GDP
    • Discuss
    • 5. Which of the following statements about GDP is correct?

    • Options
    • A. Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
    • B. Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    • C. Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    • D. Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    • Discuss
    • 6. In which of the following market forms a firm does not exercise control over price?

    • Options
    • A. Mixed Competition
    • B. Monopoly
    • C. Oligopoly
    • D. Perfect Competition
    • Discuss
    • 7. The change in the optimal quantity of a good when its price changes and the consumer?s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

    • Options
    • A. Law of demand
    • B. Substitution effect
    • C. Problem of choice
    • D. Optimal choice
    • Discuss
    • 8. IMF has predicted that the global economy would grow at _______ % in 2017.

    • Options
    • A. 5.5
    • B. 4.5
    • C. 3.5
    • D. 2.5
    • Discuss
    • 9. Which of the following will cause an increase in demand for a good?

    • Options
    • A. an increase in income if the good is an inferior goods
    • B. a decrease in the price of the goods
    • C. a decrease in income if the good is a normal goods
    • D. an increase in the price of its substitute goods
    • Discuss
    • 10. ___________ is an alternative way of representing the production function.

    • Options
    • A. The Short Run
    • B. The Long Run
    • C. Isoquant
    • D. Average product
    • Discuss


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