Practicing Success

Register
Start Free Mocks
CUETMOCK

Ace Your

CUET Preparation Today

Start Free Mocks
Home Questions 42JPENWNUU
Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Introduction

Question:

Which of the following statement/statements is/are true?
Statement 1: Abundance is the mother of all economic problems.
Statement 2: Keynes was an American economist.

Options:

Both the statements are true

Both the statements are false

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

Correct Answer:

Both the statements are false

Explanation:

The answer is Option 2: Both the statements are false.

  • Statement 1: Abundance is the mother of all economic problems. - This is false. The core challenge in economics is dealing with scarcity - limited resources but unlimited wants and needs. Abundance would actually eliminate many economic problems.
  • Statement 2: Keynes was an American economist. - This is also false. John Maynard Keynes was a famous British economist.

Therefore, both statements are incorrect.

CUET Questions