Economics: Quiz


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More interesting facts on Economics

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Question 1: ________ occur where there are significant social costs or benefits from production or consumption that are not reflected in market prices.
EconomicsPublic goodEnvironmental economicsExternality

Question 2: Adam Smith's ________ (1776) discusses the benefits of the division of labour.
The Wealth of NationsEconomicsCapitalismThomas Robert Malthus

Question 3: ________ is also associated with developments in the Keynesian fashion.
Neo-Keynesian economicsMonetary economicsMacroeconomicsNew Keynesian economics

Question 4: Thus, its focus is on the operation of ________, the pricing of financial instruments, and the financial structure of companies.
Financial marketFinanceDebtBond (finance)

Question 5: It includes Friedman's permanent income hypothesis view on consumption, the "________ revolution"[88] spearheaded by Robert Lucas, and real business cycle theory.
Austrian SchoolKeynesian economicsEconomicsRational expectations

Question 6: This has reduced long-noted distinction of economics from ________ allowed direct tests of what were previously taken as axioms.
PseudoscienceNatural scienceScientific methodSocial sciences

Question 7: Malthus also questioned the automatic tendency of a ________ to produce full employment.
Social market economyAnarchist economicsMixed economyMarket economy

Question 8: Increased trade in goods, services and capital between countries is a major effect of contemporary ________.
International Monetary FundWorld Trade OrganizationASEANGlobalization

Question 9: Managerial economics applies ________ analysis to specific decisions in business firms or other management units.
MicroeconomicsLaw and economicsHeterodox economicsMoney

Question 10: The existence of information asymmetry gives rise to problems such as moral hazard, and ________, studied in contract theory.
Principal-agent problemAdverse selectionEconomicsInsurance

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