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