Political Science – Political Economy (50 Objective Questions – JKSSB-style, English)
Political economy studies:
a) Interaction between politics and economics (a)
b) Military strategy only
c) Trade policies only
d) Judiciary rulings only
Classical political economy was developed by:
a) Adam Smith, David Ricardo (a)
b) Karl Marx only
c) John Maynard Keynes only
d) Max Weber only
Adam Smith is known as:
a) Father of Economics (a)
b) Father of Political Science
c) Father of Sociology
d) Father of Philosophy
Smith’s famous work is:
a) Wealth of Nations (a)
b) Das Kapital
c) The Prince
d) Leviathan
Karl Marx believed in:
a) Class struggle and abolition of private property (a)
b) Free market only
c) Laissez-faire only
d) Trade policies only
Marx co-authored with:
a) Friedrich Engels (a)
b) Adam Smith
c) John Locke
d) Rousseau
Political economy studies how:
a) Government policies affect economy and society (a)
b) Military strategies only
c) Trade alone
d) Judiciary only
Laissez-faire economy means:
a) Minimal government intervention in economy (a)
b) Strong state control only
c) Socialism only
d) Trade monopoly only
Mixed economy combines:
a) Private enterprise and government intervention (a)
b) Only private sector
, c) Only public sector
d) Military economy only
Socialism advocates:
a) Public ownership and equality (a)
b) Private monopoly only
c) Free trade only
d) Military control only
Capitalism emphasizes:
a) Private property and free market (a)
b) Public ownership only
c) Social equality only
d) Military only
Planned economy is:
a) Controlled and directed by the government (a)
b) Free market only
c) Private monopoly only
d) Trade only
Political economy examines:
a) Production, distribution, and consumption of goods (a)
b) Military only
c) Trade only
d) Judiciary only
Keynesian economics emphasizes:
a) Government spending to stimulate economy (a)
b) Laissez-faire only
c) Capitalism only
d) Trade monopoly only
Public finance deals with:
a) Government revenue and expenditure (a)
b) Military budget only
c) Trade income only
d) Judiciary only
Taxation is a tool for:
a) Revenue collection and redistribution (a)
b) Military funding only
c) Trade only
d) Judiciary only
Inflation refers to:
a) Rise in general price level (a)
b) Military expansion only
c) Trade increase only
d) Judiciary control only
Deflation refers to:
a) Fall in general price level (a)
b) Military reduction only
c) Trade decrease only
d) Judiciary only
Fiscal policy is:
Political economy studies:
a) Interaction between politics and economics (a)
b) Military strategy only
c) Trade policies only
d) Judiciary rulings only
Classical political economy was developed by:
a) Adam Smith, David Ricardo (a)
b) Karl Marx only
c) John Maynard Keynes only
d) Max Weber only
Adam Smith is known as:
a) Father of Economics (a)
b) Father of Political Science
c) Father of Sociology
d) Father of Philosophy
Smith’s famous work is:
a) Wealth of Nations (a)
b) Das Kapital
c) The Prince
d) Leviathan
Karl Marx believed in:
a) Class struggle and abolition of private property (a)
b) Free market only
c) Laissez-faire only
d) Trade policies only
Marx co-authored with:
a) Friedrich Engels (a)
b) Adam Smith
c) John Locke
d) Rousseau
Political economy studies how:
a) Government policies affect economy and society (a)
b) Military strategies only
c) Trade alone
d) Judiciary only
Laissez-faire economy means:
a) Minimal government intervention in economy (a)
b) Strong state control only
c) Socialism only
d) Trade monopoly only
Mixed economy combines:
a) Private enterprise and government intervention (a)
b) Only private sector
, c) Only public sector
d) Military economy only
Socialism advocates:
a) Public ownership and equality (a)
b) Private monopoly only
c) Free trade only
d) Military control only
Capitalism emphasizes:
a) Private property and free market (a)
b) Public ownership only
c) Social equality only
d) Military only
Planned economy is:
a) Controlled and directed by the government (a)
b) Free market only
c) Private monopoly only
d) Trade only
Political economy examines:
a) Production, distribution, and consumption of goods (a)
b) Military only
c) Trade only
d) Judiciary only
Keynesian economics emphasizes:
a) Government spending to stimulate economy (a)
b) Laissez-faire only
c) Capitalism only
d) Trade monopoly only
Public finance deals with:
a) Government revenue and expenditure (a)
b) Military budget only
c) Trade income only
d) Judiciary only
Taxation is a tool for:
a) Revenue collection and redistribution (a)
b) Military funding only
c) Trade only
d) Judiciary only
Inflation refers to:
a) Rise in general price level (a)
b) Military expansion only
c) Trade increase only
d) Judiciary control only
Deflation refers to:
a) Fall in general price level (a)
b) Military reduction only
c) Trade decrease only
d) Judiciary only
Fiscal policy is:
