Multiple choice

Match the following

 
List - I
List - Il
1. Learning by doing
(i) R. R. Nelson
2. Division of Labour
(ii) John Stuart Mill
3. Stationary State as bliss
(iii) Adam Smith
4. Low level equilibrium
(iv) K. J Arrow trap

  1. 1-(iv), 2-(ii), 3-(iii), 4-(i)

  2. 1-(i), 2-(ii), 3-(iii), 4-(iv)

  3. 1-(iv), 2-(iii), 3-(ii), 4-(i)

  4. 1-(ii), 2-(iv), 3-(iii), 4-(i)
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A Correct answer
Explanation

The correct matching pairs economists with their core contributions: Learning by doing is Kenneth Arrow's concept (productivity gains from experience), Division of Labour is Adam Smith's foundational idea (specialization increases efficiency), Stationary State as bliss is John Stuart Mill's vision (economic growth reaching steady-state), and Low-level equilibrium trap is R.R. Nelson's theory (development trap requiring critical minimum effort). These matching questions test knowledge of economic thought history and theorists' signature concepts.

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