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