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Institutional economics: Quiz


Question 1: Berle (1895-1971) was one of the first authors to combine legal and economic analysis, and his work stands as a founding pillar of thought in modern ________.
CorporationBusinessCorporate governanceCompanies law

Question 2: John Kenneth Galbraith (1908-2006) worked in the ________ administration of Franklin Delano Roosevelt.
Great DepressionFranklin D. RooseveltNational Recovery AdministrationNew Deal

Question 3: Big businesses set their own terms in the marketplace, and use their combined resources for ________ programmes to support demand for their own products.
BrandProduct placementAdvertisingAdvertising research

Question 4: Directors of companies are held to account to the shareholders of companies, or not, by the rules found in ________ statutes.
Corporate lawUltra viresBusiness judgment ruleCompanies law

Question 5: With the development of theories of asymmetric and distributed information, an attempt was made to integrate institutionalism into mainstream ________, under the title new institutional economics.
MercantilismKeynesian economicsNeoclassical economicsGeorgism

Question 6: [3] In The New Industrial State Galbraith argues that economic decisions are planned by a private-bureaucracy, a technostructure of experts who manipulate ________ and public relations channels.
AdvertisingMarketing managementBusiness marketingMarketing

Question 7: Like Keynes, Berle was at the ________, but subsequently resigned from his diplomatic job dissatisfied with the Versailles Treaty terms.
Paris Peace Conference, 1919United Nations Trusteeship CouncilUniversal jurisdictionUnited Nations Day

Question 8: "Traditional" institutionalism [1] rejects the reduction of institutions to simply tastes, technology, and nature (see ________).
Moralistic fallacyFalse dilemmaNaturalistic fallacyIgnoratio elenchi

Question 9: Berle served in President ________'s administration through the depression, and was a key member of the so called "Brain trust" developing many of the New Deal policies.
John F. KennedyHarry S. TrumanLyndon B. JohnsonFranklin D. Roosevelt

Question 10: Ayres developed on the ideas of ________ with a dichotomy of "technology" and "institutions" to separate the inventive from the inherited aspects of economic structures.
Keynesian economicsKarl MarxInstitutional economicsThorstein Veblen


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