A) A state where supply equals demand B) A state of chaos in the market C) A state of constant change D) A state of maximum production
A) Additional satisfaction gained from consuming one more unit of a good B) Price of the last unit of a good purchased C) Total quantity of a good consumed D) Total satisfaction gained from consuming a good
A) Chicago school of economics B) Phillips curve C) Austrian economics D) Keynesian economics
A) To predict market trends B) To study historical economic data C) To design economic policies D) To analyze strategic interactions between rational decision-makers
A) To forecast future demand B) To analyze historical trends C) To graph economic data D) To optimize resource allocation given constraints
A) Cost of resources used in production B) The value of the best alternative forgone in order to make a particular choice C) Total cost of production D) Price of a good in a competitive market
A) Cross-price elasticity B) Elasticity of demand C) Market equilibrium D) Income effect
A) Equal distribution of wealth B) Allocation of resources where no individual can be made better off without making another worse off C) Maximum total utility for all individuals D) Elimination of poverty
A) Curve showing only one optimal choice B) All combinations of goods that provide the same level of utility to a consumer C) Curve representing diminishing marginal utility D) Curve indicating increasing marginal utility
A) Gottfried Achenwall B) Johann Heinrich von Thünen C) Sir William Petty D) John Maynard Keynes
A) Economic Calculus B) Political Arithmetick C) Mathematical Economics D) Statistical Analysis
A) Sir William Petty B) W.S. Jevons C) Johann Heinrich von Thünen D) John Maynard Keynes
A) Gottfried Achenwall B) W.S. Jevons C) Robert Heilbroner D) Friedrich Hayek
A) Empirical B) Theoretical C) Qualitative D) Mathematical
A) Gottfried Achenwall, Sir William Petty B) John Maynard Keynes, Robert Heilbroner, Friedrich Hayek C) Johann Heinrich von Thünen, W.S. Jevons D) None of the above
A) Matrix algebra B) Algebraic means C) Game theory D) Differential calculus
A) Sir William Petty B) Gottfried Achenwall C) W.S. Jevons D) Johann Heinrich von Thünen
A) Augustin Cournot, Léon Walras, and Francis Ysidro Edgeworth B) Karl Marx, Friedrich Hayek, and Joseph Schumpeter C) Adam Smith, David Ricardo, and John Stuart Mill D) John Maynard Keynes, Milton Friedman, and Paul Samuelson
A) By government regulation B) By the total quantity supplied by both sellers C) By the individual demand curve of each seller D) By the cost of production for each seller
A) Pareto efficiency B) Walrasian equilibrium C) Kaldor-Hicks efficiency D) Nash equilibrium
A) Implemented in policy immediately B) Rejected entirely without consideration C) Neglected for decades D) Immediately accepted and celebrated
A) Two B) Three C) Four D) Five
A) All markets must clear simultaneously B) Only one market needs to clear for all others to follow C) If n-1 markets cleared, the nth market would clear as well D) Markets cannot reach equilibrium independently
A) Five B) Three C) Two D) Four
A) Economics B) Physics C) Operations research D) Pure mathematics
A) Econometrica B) Quarterly Journal of Economics C) Journal of Political Economy D) The American Economic Review
A) Functional analysis B) Variational calculus C) Optimal control theory D) Fixed-point theory
A) Automated computational engineering B) Applied calculus of economics C) Advanced computational econometrics D) Agent-based computational economics
A) The Cowles Commission B) National Bureau of Economic Research C) Econometric Society D) American Economic Association
A) Reinhard Selten B) John Harsanyi C) John Nash D) Oskar Morgenstern
A) About the 1990s B) Early 1980s C) Mid-2000s D) Late 1970s
A) "Optimal functions" B) "Objectively determined valuations" C) "Market equilibria" D) "Economic variables"
A) Alfred Marshall B) Adam Smith C) Milton Friedman D) John Maynard Keynes
A) Comparative statics B) Invisible hand hypothesis C) Walrasian equilibrium D) Pareto efficient
A) Edwin Robert Anderson Seligman B) Arthur Lyon Bowley C) Harold Hotelling D) Jeremy Bentham
A) Wassily Leontief B) Von Neumann C) Leonid Kantorovich D) Paul Samuelson
A) Berlin airlift (1948) B) Cuban Missile Crisis C) World War I D) Cold War
A) von Neumann technologies B) Arrow–Debreu models C) Linear programming techniques D) Leontief technologies
A) Le Chatelier's principle B) Pareto efficiency C) Von Neumann's equilibrium model D) Brouwer's fixed point theorem
A) John von Neumann B) Alfred Marshall C) Vilfredo Pareto D) Paul Samuelson
A) Harold Hotelling B) Edwin Robert Anderson Seligman C) Arthur Lyon Bowley D) Jeremy Bentham
A) 1951 B) 1944 C) 1994 D) 1965
A) Trygve Haavelmo B) Henry L. Moore C) Ragnar Frisch D) Nicholas Kaldor
A) Macroeconomics B) General equilibrium theory C) Input-output economics D) Microeconomics
A) 1881 B) 1924 C) 1878 D) 1905
A) Convex sets and fixed-point theory B) Optimal control theory C) Dynamic programming D) Functional analytic methods including topology
A) 1994 B) 2010 C) 1985 D) 2001
A) Graph theory B) Convex sets C) Differential calculus D) Linear programming
A) Empirical B) Static C) Probabilistic D) Dynamic
A) Henry L. Moore B) Nicholas Kaldor C) Ragnar Frisch D) Trygve Haavelmo
A) Minimize f(x) B) Solve h_j(x) C) Equalize g_i(x) D) Maximize f(x)
A) 1933 B) 1892 C) 1944 D) 1925
A) Mathematics B) Programming C) Econometrics D) Statistics
A) Qualitative research studies B) Simple arithmetic calculations C) Basic economic theory D) Economic problems with many variables
A) Opportunity cost B) Felicific calculus C) Marginal utility D) Utilitarianism
A) 15% B) 20% C) 10% D) 5.8%
A) Complex adaptive systems B) Behavioral finance C) Quantum economics D) Classical mechanics
A) The Chicago school B) Keynesian school C) Neoclassical schools D) The Austrian school
A) Assumptions are irrelevant to model performance. B) 'All assumptions are unrealistic.' C) Models should not be judged by their predictive performance. D) Assumptions should always match reality.
A) Trygve Haavelmo B) Ragnar Frisch C) Henry L. Moore D) Nicholas Kaldor
A) Linear functions B) Quadratic functions C) Polyhedral convex functions D) Non-convex functions
A) 1930s B) 1940s C) 1960s D) 1950s |