Economists & Economic Theories Quiz
Economists & Economic Theories · Medium
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 developed the 'Quantity Theory of Money' and led the Chicago School of monetarism?
- A. Paul Samuelson
- B. John Kenneth Galbraith
- C. James Tobin
- D. Milton Friedman
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Which economist developed the 'Tobin Tax' - a proposed small tax on financial transactions to reduce speculation?
- A. Robert Mundell
- B. Franco Modigliani
- C. Paul Samuelson
- D. James Tobin
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Which development economist is famous for the 'Lewis Model' of economic development - explaining labour movement from traditional to modern sectors?
- A. Theodore Schultz
- B. Simon Kuznets
- C. Ragnar Nurkse
- D. W. Arthur Lewis
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Which economist developed the 'Impossibility Theorem' showing no voting system can satisfy all reasonable fairness conditions simultaneously?
- A. John Rawls
- B. Amartya Sen
- C. Duncan Black
- D. Kenneth Arrow
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Which economist is associated with 'Property Rights Theory' explaining how clear ownership rights promote economic efficiency?
- A. Harold Demsetz
- B. Armen Alchian
- C. Oliver Williamson
- D. Ronald Coase
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Which economist is associated with the 'New Keynesian Economics' - combining Keynesian insights with microeconomic foundations?
- A. N. Gregory Mankiw
- B. Joseph Stiglitz
- C. Olivier Blanchard
- D. Stanley Fischer
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Which economist wrote 'Principles of Economics' - the dominant economics textbook from 1890 to the 1940s?
- A. William Stanley Jevons
- B. John Stuart Mill
- C. Leon Walras
- D. Alfred Marshall
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Which economist developed 'Endogenous Growth Theory' - arguing technological progress is driven by economic incentives within the system?
- A. Gene Grossman
- B. Robert Lucas
- C. Elhanan Helpman
- D. Paul Romer
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Which economist developed the 'Permanent Income Hypothesis' - arguing that people spend based on expected lifetime income?
- A. Paul Samuelson
- B. Franco Modigliani
- C. James Duesenberry
- D. Milton Friedman
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Which economist developed the 'Random Walk Hypothesis' - arguing that stock price changes are unpredictable?
- A. Fischer Black
- B. Harry Roberts
- C. Paul Cootner
- D. Burton Malkiel
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Which economist's 'Paradox of Thrift' argues that individual saving reduces aggregate demand and harms the overall economy?
- A. Paul Samuelson
- B. Alvin Hansen
- C. Joan Robinson
- D. John Maynard Keynes
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Who proposed Keynesian economics?
- A. Keynes
- B. Marshall
- C. Smith
- D. Ricardo
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Which economist is associated with 'Institutional Economics' - emphasising the role of institutions in shaping economic behaviour?
- A. Simon Kuznets
- B. Robert Heilbroner
- C. Wesley Mitchell
- D. Thorstein Veblen
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Which economist is known for the 'Domar Model' of economic growth - developed alongside the Harrod-Domar framework?
- A. Evsey Domar
- B. Roy Harrod
- C. Nicholas Kaldor
- D. Joan Robinson
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Which economist is credited with developing 'Input-Output Analysis' - a method of analysing economic interdependencies between sectors?
- A. Simon Kuznets
- B. Gunnar Myrdal
- C. Jan Tinbergen
- D. Wassily Leontief
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Which Nobel economist is known for 'Auction Theory' - designing efficient mechanisms for allocating goods?
- A. Jean Tirole
- B. Lloyd Shapley
- C. Alvin Roth
- D. William Vickrey
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Which economist developed the 'Life Cycle Hypothesis' of saving - arguing people save during working years and dissave in retirement?
- A. Lawrence Klein
- B. Paul Samuelson
- C. Richard Stone
- D. Franco Modigliani
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Which economist developed the concept of 'Information Asymmetry' and 'Signalling' in markets?
- A. Joseph Stiglitz
- B. Sanford Grossman
- C. James Mirrlees
- D. Michael Spence
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Which economist is credited with developing 'Behavioral Economics' - integrating psychology into economic decision-making?
- A. George Akerlof
- B. Robert Shiller
- C. Eugene Fama
- D. Daniel Kahneman
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Which Nobel laureate is known for the 'Mundell-Fleming Model' - extending IS-LM to open economies with international capital flows?
- A. Robert Mundell
- B. J. Marcus Fleming
- C. John Hicks
- D. Franco Modigliani