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State PCS PYQPrelims 2024

UPPCS · Question 115

With reference to economic growth, which of the following statements is/are correct? 1. Indian economy is an underdeveloped economy. 2. Indian economy is a mixed economy. 3. J.M. Keynes is the Father of Economics. Select the correct answer from the codes given below.

  1. Only 1 and 2 are correct.
  2. Only 3 is correct.
  3. Only 1 is correct.
  4. Only 2 and 3 are correct.
Show answer & explanation

Answer: (A) Only 1 and 2 are correct.

Explanation

India is a mixed, developing economy; Adam Smith is the father of economics (Keynes is father of modern macroeconomics).