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