11th Principles of Economics MCQS
Monetary theory of Trade cycle is presented by
Prof Keynes
Prof Kitchen
Prof Hawtrey and Friedman
Prof Hobson
During the phase of recession prices of goods
Start rising
Start falling
are highest
are lowest
In which phase of a trade cycle production, employment, wages and rate of interest etc start rising gradually
Depression
Recession
Boom
Recovery
During recession demand for factors of production is
Very low
More
Too much
Limited
During boom
Unemployment increase
Business contracts
Profit decreases
Profit increases
During depression, increases
Profit
Employment
Unemployment
Production
Psychological theory of trade cycles is presented by
Prof Jevons
Prof Hawtrey
Prof Pigou and Bagehot
Prof Keynes
Modern theory of trade cycles is presented by
Prof Hicks and Samuelson
Prof Schumpeter
Prof Keynes
Prof Hawtrey
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