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