Question

Match the following:
Group A
1) Micro-Economics
2) Macro-Economics
3) Theory of Growth
4) Lord Keynes

Group B
a) Harrod and Domar
b) Partial equilibrium
c) Principles of economics
d) General equilibrium
e) Theory of Employment interest and money
f) Business economics

Answer 1

1) Micro-Economics - b) Partial equilibrium

2) Macro-Economics - d) General equilibrium

3) Theory of Growth - a) Harrod and Domar

4) Lord Keynes - e) Theory of Employment interest and money

Answer 2

• 1) Micro-Economics - b) Partial Equilibrium

Partial equilibrium takes only a part of the market is operating alone of everything to attain equilibrium.

• 2) Macro-Economics - d) General Equilibrium

General equilibrium analyzes the whole economy, it will exist when supply and demand are equal or balanced.

• 3) Theory of Growth - a) Harrod and Domar

He has suggested the model of economic growth it is used in development economics.

• 4) Lord Keynes - e)Theory of Employment interest and money

He is an economist and best known for his economic theories on the causes of increased unemployment.