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