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