A) A state of constant change B) A state where supply equals demand C) A state of maximum production D) A state of chaos in the market
A) Total quantity of a good consumed B) Price of the last unit of a good purchased C) Additional satisfaction gained from consuming one more unit of a good D) Total satisfaction gained from consuming a good
A) Keynesian economics B) Austrian economics C) Phillips curve D) Chicago school of economics
A) To analyze strategic interactions between rational decision-makers B) To study historical economic data C) To design economic policies D) To predict market trends
A) To graph economic data B) To optimize resource allocation given constraints C) To forecast future demand D) To analyze historical trends
A) Cost of resources used in production B) Total cost of 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) Cross-price elasticity B) Income effect C) Elasticity of demand D) Market equilibrium
A) Elimination of poverty B) Equal distribution of wealth 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 indicating increasing marginal utility B) Curve showing only one optimal choice C) All combinations of goods that provide the same level of utility to a consumer D) Curve representing diminishing marginal utility
A) Johann Heinrich von Thünen B) John Maynard Keynes C) Gottfried Achenwall D) Sir William Petty
A) Political Arithmetick B) Statistical Analysis C) Mathematical Economics D) Economic Calculus
A) Johann Heinrich von Thünen B) W.S. Jevons C) Sir William Petty D) John Maynard Keynes
A) Robert Heilbroner B) Gottfried Achenwall C) W.S. Jevons D) Friedrich Hayek
A) Theoretical B) Mathematical C) Empirical D) Qualitative
A) John Maynard Keynes, Robert Heilbroner, Friedrich Hayek B) None of the above C) Gottfried Achenwall, Sir William Petty D) Johann Heinrich von Thünen, W.S. Jevons
A) Differential calculus B) Algebraic means C) Matrix algebra D) Game theory
A) Gottfried Achenwall B) Sir William Petty C) Johann Heinrich von Thünen D) W.S. Jevons
A) Karl Marx, Friedrich Hayek, and Joseph Schumpeter B) Adam Smith, David Ricardo, and John Stuart Mill C) Augustin Cournot, Léon Walras, and Francis Ysidro Edgeworth 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) Nash equilibrium B) Walrasian equilibrium C) Pareto efficiency D) Kaldor-Hicks efficiency
A) Immediately accepted and celebrated B) Implemented in policy immediately C) Neglected for decades D) Rejected entirely without consideration
A) Four B) Two C) Five D) Three
A) Only one market needs to clear for all others to follow B) All markets must clear simultaneously C) Markets cannot reach equilibrium independently D) If n-1 markets cleared, the nth market would clear as well
A) Three B) Two C) Five D) Four
A) Operations research B) Pure mathematics C) Physics D) Economics
A) The American Economic Review B) Journal of Political Economy C) Quarterly Journal of Economics D) Econometrica
A) Fixed-point theory B) Variational calculus C) Optimal control theory D) Functional analysis
A) Agent-based computational economics B) Applied calculus of economics C) Automated computational engineering D) Advanced computational econometrics
A) National Bureau of Economic Research B) Econometric Society C) American Economic Association D) The Cowles Commission
A) John Nash B) John Harsanyi C) Oskar Morgenstern D) Reinhard Selten
A) About the 1990s B) Late 1970s C) Mid-2000s D) Early 1980s
A) "Optimal functions" B) "Market equilibria" C) "Economic variables" D) "Objectively determined valuations"
A) Milton Friedman B) Alfred Marshall C) Adam Smith D) John Maynard Keynes
A) Comparative statics B) Invisible hand hypothesis C) Pareto efficient D) Walrasian equilibrium
A) Arthur Lyon Bowley B) Harold Hotelling C) Jeremy Bentham D) Edwin Robert Anderson Seligman
A) Wassily Leontief B) Von Neumann C) Leonid Kantorovich D) Paul Samuelson
A) World War I B) Cold War C) Cuban Missile Crisis D) Berlin airlift (1948)
A) Linear programming techniques B) Arrow–Debreu models C) Leontief technologies D) von Neumann technologies
A) Pareto efficiency B) Le Chatelier's principle C) Brouwer's fixed point theorem D) Von Neumann's equilibrium model
A) John von Neumann B) Alfred Marshall C) Vilfredo Pareto D) Paul Samuelson
A) Harold Hotelling B) Jeremy Bentham C) Edwin Robert Anderson Seligman D) Arthur Lyon Bowley
A) 1944 B) 1965 C) 1951 D) 1994
A) Trygve Haavelmo B) Nicholas Kaldor C) Henry L. Moore D) Ragnar Frisch
A) General equilibrium theory B) Microeconomics C) Input-output economics D) Macroeconomics
A) 1881 B) 1878 C) 1905 D) 1924
A) Convex sets and fixed-point theory B) Optimal control theory C) Functional analytic methods including topology D) Dynamic programming
A) 1985 B) 2010 C) 1994 D) 2001
A) Linear programming B) Differential calculus C) Graph theory D) Convex sets
A) Probabilistic B) Empirical C) Dynamic D) Static
A) Ragnar Frisch B) Henry L. Moore C) Trygve Haavelmo D) Nicholas Kaldor
A) Maximize f(x) B) Minimize f(x) C) Equalize g_i(x) D) Solve h_j(x)
A) 1933 B) 1892 C) 1944 D) 1925
A) Mathematics B) Statistics C) Econometrics D) Programming
A) Economic problems with many variables B) Basic economic theory C) Simple arithmetic calculations D) Qualitative research studies
A) Felicific calculus B) Opportunity cost C) Marginal utility D) Utilitarianism
A) 20% B) 10% C) 15% D) 5.8%
A) Behavioral finance B) Quantum economics C) Classical mechanics D) Complex adaptive systems
A) Keynesian school B) Neoclassical schools C) The Chicago school D) The Austrian school
A) Assumptions should always match reality. B) 'All assumptions are unrealistic.' C) Models should not be judged by their predictive performance. D) Assumptions are irrelevant to model performance.
A) Ragnar Frisch B) Trygve Haavelmo C) Nicholas Kaldor D) Henry L. Moore
A) Linear functions B) Non-convex functions C) Polyhedral convex functions D) Quadratic functions
A) 1960s B) 1950s C) 1930s D) 1940s |