Site navigation

Match List-I with List-II. List-IList-II A. Economics of Idea I. Adam Smith B. Learning by doing II.…

Paul Romer’s endogenous growth theory centres on nonrival ideas (A-IV); Arrow developed learning by doing (B-III); Keynes used animal spirits for investment confidence…

Choose your answer

Match List-I with List-II.

List-IList-II
A. Economics of IdeaI. Adam Smith
B. Learning by doingII. John Maynard Keynes
C. Animal SpiritIII. K. J. Arrow
D. Invisible HandIV. Paul Romer
Select one answer
Answer and explanation

Correct answer B

Paul Romer’s endogenous growth theory centres on nonrival ideas (A-IV); Arrow developed learning by doing (B-III); Keynes used animal spirits for investment confidence (C-II); Smith’s invisible hand is D-I. Thus A-IV,B-III,C-II,D-I. The first swaps both the idea/learning and spirits/hand links; third reverses Romer and Arrow; fourth wrongly puts Smith with ideas and Arrow with the invisible hand. A-III, B-IV, C-I, D-II — Not selected for the specific reasons given above. A-IV, B-III, C-II, D-I — Selected; the independent derivation above supports this complete choice. A-III, B-IV, C-II, D-I — Not selected for the specific reasons given above. A-I, B-IV, C-II, D-III — Not selected for the specific reasons given above.

Practice for these exams

  • UGC NET Economics

Related question papers

Related exam syllabi

Related questions in this topic