Economists & Economic Theories Quiz
Economists & Economic Theories · Hard
20 questions · Unlimited attempts · Free online practice
Economics is shaped by the ideas of influential thinkers who sought to explain how wealth is created, markets function, and societies make choices. Studying economists and their th...
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All 20 questions in this Economists & Economic Theories quiz
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Which economist is associated with 'Trickle-Down Economics' - the idea that benefits to the wealthy eventually benefit everyone?
- A. Ronald Reagan
- B. Jack Kemp
- C. David Stockman
- D. Arthur Laffer
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Which economist is known for the 'Kalecki Model' - a Marxist-influenced approach to macroeconomics and income distribution?
- A. Oskar Lange
- B. Micha Kalecki
- C. Joan Robinson
- D. Piero Sraffa
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Which Nobel Prize-winning economist developed the 'Overlapping Generations Model' of economic growth?
- A. Robert Solow
- B. Paul Samuelson
- C. Maurice Allais
- D. Peter Diamond
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Which economist is known for the 'Big Push Theory' - arguing that coordinated large-scale investment is needed to break a poverty trap?
- A. Gunnar Myrdal
- B. W. Arthur Lewis
- C. Albert Hirschman
- D. Paul Rosenstein-Rodan
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Which economist developed 'Dependency Theory' - arguing developing countries remain poor because of exploitation by wealthy nations?
- A. Ral Prebisch
- B. Paul Baran
- C. Hans Singer
- D. Andr Gunder Frank
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Which economist is associated with 'Ricardian Equivalence' - arguing government borrowing is equivalent to taxation?
- A. James Buchanan
- B. Robert Barro
- C. Martin Feldstein
- D. David Ricardo
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What is 'Pareto Efficiency'?
- A. When no one can be better off without making someone worse off
- B. Maximized profit
- C. High employment
- D. Zero waste
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Which economist coined the phrase 'There is no such thing as a free lunch' as a fundamental economic principle?
- A. Henry Hazlitt
- B. Frederic Bastiat
- C. Milton Friedman
- D. Robert Heinlein
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Which Nobel Prize-winning economist developed the 'Theory of Optimal Taxation'?
- A. Peter Diamond
- B. William Vickrey
- C. Frank Ramsey
- D. James Mirrlees
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Which Norwegian economist won the first Nobel Prize in Economics in 1969 for his work on econometrics and macroeconomic models?
- A. Trygve Haavelmo
- B. Ragnar Frisch
- C. Jan Tinbergen
- D. Lawrence Klein
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What is 'Keynesian Economics'?
- A. Laissez-faire
- B. Government intervention to manage demand
- C. Focus on supply side
- D. Barter system
-
Which economist is associated with the 'Cobb-Douglas Production Function' - a mathematical model of economic output?
- A. Douglas North
- B. Paul Douglas
- C. Kenneth Arrow
- D. Charles Cobb
-
Which 19th-century economist developed the theory of 'Marginal Utility' independently - one of three founders of the Marginalist Revolution?
- A. Henry Sidgwick
- B. Nassau Senior
- C. John Rae
- D. William Stanley Jevons
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Which Nobel economist developed the theory of 'Endogenous Money' - arguing that the money supply is determined by bank lending not central bank policy?
- A. Hyman Minsky
- B. Basil Moore
- C. Nicholas Kaldor
- D. Post-Keynesian school generally
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Which economist is associated with the 'Washington Consensus' - a set of free-market policy prescriptions for developing countries?
- A. Jeffrey Sachs
- B. Dani Rodrik
- C. Stanley Fischer
- D. John Williamson
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Which economist is associated with 'Ordoliberalism' - the German approach to social market economy?
- A. Walter Eucken
- B. Franz Bhm
- C. Ludwig Erhard
- D. Wilhelm Rpke
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Which economist developed the concept of 'Adverse Selection' in insurance markets - where high-risk individuals are more likely to purchase insurance?
- A. George Akerlof
- B. Michael Spence
- C. Joseph Stiglitz
- D. Kenneth Arrow
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Which economist is known for the 'Theory of Second Best' - arguing that removing one market distortion may not improve welfare if others remain?
- A. Francis Bator
- B. Richard Lipsey
- C. Kelvin Lancaster
- D. James Meade
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Which economist is known for the 'Population Theory'?
- A. Thomas Malthus
- B. Alfred Marshall
- C. Adam Smith
- D. John Keynes
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Which Nobel laureate is known for developing the 'Dixit-Stiglitz Model' of monopolistic competition used in international trade theory?
- A. Paul Krugman
- B. Avinash Dixit
- C. Joseph Stiglitz
- D. Elhanan Helpman