Philosophy of economics - Quiz
A) Adam Smith B) Karl Marx C) Friedrich Hayek D) John Maynard Keynes
A) Inflation B) Consumer Price Index (CPI) C) Supply and Demand D) Gross Domestic Product (GDP)
A) Keynesian Economics B) Behavioral Economics C) Marxian Economics D) Classical Economics
A) Marginal Cost B) Fixed Cost C) Average Cost D) Opportunity Cost
A) Shortage B) Surplus C) Price Floor D) Equilibrium
A) Monopoly B) Market Failure C) Externalities D) Price Discrimination
A) Social norms B) Charity C) Self-interest D) Government regulation
A) Break-even point B) Operational cost C) Profit D) Loss
A) Competition B) Supply and demand C) Elasticity D) Monopoly power
A) Development economics B) Microeconomics C) International economics D) Macroeconomics
A) Market Economy B) Mixed Economy C) Planned Economy D) Command Economy
A) Monopoly B) Fiscal policy C) Pareto efficiency D) Inflation
A) Alexander Rosenberg and Daniel M. Hausman B) Karl Marx and Adam Smith C) Friedrich Hayek and Milton Friedman D) Immanuel Kant and John Stuart Mill
A) Surplus B) Equilibrium C) Scarcity D) Abundance
A) The historical development of economic thought B) The ethical implications of economic decisions C) How to implement economic policies effectively D) Whether economic theories can state 'laws'
A) What are the historical origins of economic thought? B) How can economic models be simplified? C) Who benefits from economic policies? D) Are we claiming that the theories relate to reality or perceptions?
A) A mathematical model B) An empirical study C) A survey of definitional and territorial difficulties and controversies D) A clear and concise definition
A) Karl Marx B) Robert Nozick C) Immanuel Kant D) John Rawls
A) Virtue ethics B) Consequentialism C) Rights-based (deontological) approaches D) Utilitarian approaches
A) Utility Theory B) Prospect Theory C) Game Theory D) Rational Choice Theory
A) Keynesian Economics B) Austrian School C) Chicago School D) Marxist Economics
A) John Maynard Keynes B) Milton Friedman C) Amartya Sen D) Friedrich Hayek
A) Yes, because they are always empirically verifiable B) No, because they deal only with perceptions C) This is debated, as it questions whether they are as reliable as predictions in natural sciences D) Yes, because they follow strict mathematical laws
A) Empirical scientific hypotheses B) Substantive philosophical theses C) Mathematical conjectures D) Historical narratives
A) Deontological ethics B) Utilitarianism C) Virtue ethics D) Existentialism
A) Amartya Sen B) John Stuart Mill C) Ludwig von Mises D) Immanuel Kant
A) Immanuel Kant B) René Descartes C) David Hume D) John Locke
A) The practical implementation of economic policies B) The historical development of economic theories C) The status of highly idealized economic models D) The ethical implications of economic decisions
A) Because it deals exclusively with natural phenomena B) Because it is purely theoretical C) Because it has detailed peculiarities and overt features of the natural sciences while dealing with social phenomena D) Because it lacks empirical verification
A) The ethical implications of economic decisions B) How we know things, including the nature of truth claims made by economic theories C) The historical context of economic thought D) The mathematical foundations of economic models
A) The ethical implications of economic decisions B) The historical development of economic thought C) How economic theories should be proven, including whether they must be empirically verifiable D) The practical implementation of economic policies |
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