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