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