61. Who is known for the theory of “optimal taxation” in public finance?
a) James Mirrlees
b) Kenneth Arrow
c) Peter Diamond
d) Richard Thaler
Answer: a) James Mirrlees
62. Who is known for the concept of “externalities” in economics?
a) Arthur Pigou
b) Ronald Coase
c) Elinor Ostrom
d) Amartya Sen
Answer: a) Arthur Pigou
63. Who is known for the theory of “public goods” in economics?
a) Paul Samuelson
b) Robert Solow
c) Milton Friedman
d) Gary Becker
Answer: a) Paul Samuelson
64. Who is known for the concept of “opportunity cost” in economics?
a) Friedrich Hayek
b) Milton Friedman
c) David Ricardo
d) Adam Smith
Answer: c) David Ricardo
65. Who is known for the theory of “consumer surplus” in economics?
a) Alfred Marshall
b) Paul Krugman
c) John Maynard Keynes
d) Thomas Malthus
Answer: a) Alfred Marshall
