Argues for interventionist policies in response to recessions
Is in favor of a constant money growth rate rule for the money stock
Is an offshoot of Monetarist theory
None of the above
Correct answer: (E) None of the above
252. Which of the following shocks have been emphasized most often with respect to real business cycle story?
Shocks to technology
Variations in environmental conditions
Changes in the real(relative) prices of imported raw materials
Changes in tax rates
None of the above
Correct answer: (A) Shocks to technology
253. In real business cycle models, business cycles are caused by _________________, while in new Keynesian model business cycles are caused by _________________
254. Advocates of real business cycle theories argue that all of the following could cause a recession except
A fall in consumer expectations
Natural disasters
Higher taxation
Increase in the price of oil
Correct answer: (A) A fall in consumer expectations
255. Many economists who accept the real business cycle explanations of economic fluctuations
Believe that the Sharpe rise in the relative price of imported oil was the central cause of the deep recession in the United States in the mid-1970s
Believe that the restrictive Federal reserve Monetary policy was the central cause of the deep recession in the United States in the mid-1970s
Believe that the Sharpe rise in the relative price of imported oil was not the main cause of the deep recession in the United States in the mid-1970s
Both a and c
None of the above
Correct answer: (A) Believe that the Sharpe rise in the relative price of imported oil was the central cause of the deep recession in the United States in the mid-1970s
256. The five year plan in India are launched after the approval of
The President and Prime Minister
The Rajya Sabha
The National Development Council (NDC)
The Lok Sabha
Correct answer: (C) The National Development Council (NDC)
257. Dualism in development economics refers to
Dual price policy
Co-existence of technical and non-technical sectors
Co-existence of modern and traditional sectors
Co-existence of institutional and non- institutional agencies
Correct answer: (C) Co-existence of modern and traditional sectors
258. Determination of price through interaction of demand and supply was introduced by:
Keynes
Marshall
Pigou
Walras
Correct answer: (D) Walras
259. The imposition of an import tariff by a nation will increase the nation's welfare:
Never
Often
Sometimes
Always
Correct answer: (C) Sometimes
260. Factor intensity as it is used in economics, is primarily s: