Choose the correct statements from the following : (A) Adam Smith is termed as Father of Modern Economics. (B) J.M. Keynes gave the Theory of Income, Output and Employment. (C) Four Sector Model = C + I + G + (X – M) (D) Store of value is primary function of money. Choose the correct statements from the following: Option 1: (A), (B) and (D) only Option 2: (A), (B) and (C) only Option 3: (A), (B), (C) and (D) Option 4: (B), (C) and (D) only

Answer: (A), (B) and (C) only. Solution: Adam Smith -> Father of Economics -> true statement. J.M. Keynes -> gave macroeconomic theory -> true statement. Four Sector Model -> includes exports -> and imports -> correct equation. Store of value -> primary function -> of money -> incorrect statement. So, correct answer is: Option 2 -> (A), (B) and (C) only .

Micro

Introduction

Easy

Choose the correct statements from the following :

(A) Adam Smith is termed as Father of Modern Economics.

(B) J.M. Keynes gave the Theory of Income, Output and Employment.

(D) Store of value is primary function of money.

Choose the correct statements from the following:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

✅ Correct Option: 2

Adam Smith -> Father of Economics -> true statement.
J.M. Keynes -> gave macroeconomic theory -> true statement.
Four Sector Model -> includes exports -> and imports -> correct equation.
Store of value -> primary function -> of money -> incorrect statement.

So, correct answer is: Option 2 -> (A), (B) and (C) only.

2025: 16 May Shift 1

Identify the characteristics of the resources from the following

(A) Resources are limited

(B) Resources are available for free

(D) Resources have alternative uses.

Choose the correct answer from the options given below:

2026: 23 May Shift 1

Which one of the following statement is correct?

2025: 28 May Shift 2

In the course of production, exchange and consumption of goods and services, every society has to face a scarcity of resources; and it is the scarcity of resources that gives rise to the problem of .............

2022: 19 July Shift 2

A hypothetical economy has a piece of land which, in order of priority, can be used for building a school, a hospital, a factory and a residential complex. What is the opportunity cost of choosing the best alternative ?

2026: 31 May Shift 1

Every society has to answer three basic economics questions. Which one of the following is not part of those three questions?

2022: 16 July Shift 2

The main issues of an economy are:

Choose the correct statements from the following:

Solution

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