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