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Economic History and Economic Thought

Description: This quiz will test your knowledge of economic history and economic thought.
Number of Questions: 15
Created by:
Tags: economic history economic thought
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Who is considered the father of economics?

  1. Adam Smith

  2. Karl Marx

  3. John Maynard Keynes

  4. Milton Friedman


Correct Option: A
Explanation:

Adam Smith is considered the father of economics because of his book, \"The Wealth of Nations\", which laid the foundation for classical economics.

What is the name of the economic theory that emphasizes the importance of individual liberty and free markets?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Monetarism


Correct Option: A
Explanation:

Classical economics is a school of economic thought that emphasizes the importance of individual liberty and free markets.

Who is considered the father of Marxism?

  1. Adam Smith

  2. Karl Marx

  3. John Maynard Keynes

  4. Milton Friedman


Correct Option: B
Explanation:

Karl Marx is considered the father of Marxism, a school of economic thought that emphasizes the importance of class struggle and the eventual overthrow of capitalism.

What is the name of the economic theory that emphasizes the importance of government intervention in the economy?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Monetarism


Correct Option: C
Explanation:

Keynesian economics is a school of economic thought that emphasizes the importance of government intervention in the economy to stimulate aggregate demand and promote economic growth.

Who is considered the father of monetarism?

  1. Adam Smith

  2. Karl Marx

  3. John Maynard Keynes

  4. Milton Friedman


Correct Option: D
Explanation:

Milton Friedman is considered the father of monetarism, a school of economic thought that emphasizes the importance of controlling the money supply to regulate the economy.

What is the name of the economic theory that emphasizes the importance of rational expectations?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. New classical economics


Correct Option: D
Explanation:

New classical economics is a school of economic thought that emphasizes the importance of rational expectations, which means that people form their expectations about the future based on all available information.

What is the name of the economic theory that emphasizes the importance of behavioral economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Behavioral economics


Correct Option: D
Explanation:

Behavioral economics is a school of economic thought that emphasizes the importance of psychological factors in economic decision-making.

What is the name of the economic theory that emphasizes the importance of institutional economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Institutional economics


Correct Option: D
Explanation:

Institutional economics is a school of economic thought that emphasizes the importance of institutions in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of evolutionary economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Evolutionary economics


Correct Option: D
Explanation:

Evolutionary economics is a school of economic thought that emphasizes the importance of evolution in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of feminist economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Feminist economics


Correct Option: D
Explanation:

Feminist economics is a school of economic thought that emphasizes the importance of gender in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of ecological economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Ecological economics


Correct Option: D
Explanation:

Ecological economics is a school of economic thought that emphasizes the importance of the environment in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of complexity economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Complexity economics


Correct Option: D
Explanation:

Complexity economics is a school of economic thought that emphasizes the importance of complexity in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of network economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Network economics


Correct Option: D
Explanation:

Network economics is a school of economic thought that emphasizes the importance of networks in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of information economics?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Information economics


Correct Option: D
Explanation:

Information economics is a school of economic thought that emphasizes the importance of information in shaping economic outcomes.

What is the name of the economic theory that emphasizes the importance of game theory?

  1. Classical economics

  2. Marxian economics

  3. Keynesian economics

  4. Game theory


Correct Option: D
Explanation:

Game theory is a school of economic thought that emphasizes the importance of strategic interaction in shaping economic outcomes.

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