Who is often referred to as the “father of modern economics” and wrote “The Wealth of Nations”?
a) Karl Marx
b) John Maynard Keynes
c) Adam Smith
d) Friedrich Hayek
Answer: c) Adam Smith
This economist developed the concept of Gross Domestic Product (GDP) as a measure of economic output.
a) Milton Friedman
b) John Kenneth Galbraith
c) Paul Samuelson
d) Simon Kuznets
Answer: d) Simon Kuznets
Who is known for his theory of “creative destruction” and the idea that markets drive economic progress?
a) Joseph Schumpeter
b) John Stuart Mill
c) John Maynard Keynes
d) Amartya Sen
Answer: a) Joseph Schumpeter
This economist is associated with the concept of “opportunity cost” and wrote “Principles of Economics.”
a) Friedrich Hayek
b) Alfred Marshall
c) Paul Krugman
d) Joan Robinson
Answer: b) Alfred Marshall
Who is known for his advocacy of supply-side economics and the idea that tax cuts can stimulate economic growth?
a) Paul Krugman
b) John Maynard Keynes
c) Arthur Laffer
d) Adam Smith
Answer: c) Arthur Laffer
This economist is associated with the theory of “rational expectations” in macroeconomics.
a) Milton Friedman
b) Robert Solow
c) Robert Lucas Jr.
d) Amartya Sen
Answer: c) Robert Lucas Jr.
Who is known for his work on game theory and was awarded the Nobel Memorial Prize in Economic Sciences?
a) John Nash
b) Paul Romer
c) Gary Becker
d) Joseph Stiglitz
Answer: a) John Nash
This economist is associated with the theory of “comparative advantage” and argued for free trade.
a) David Ricardo
b) John Kenneth Galbraith
c) Joseph Stiglitz
d) Friedrich Hayek
Answer: a) David Ricardo
Who is known for his book “The General Theory of Employment, Interest, and Money” and his advocacy of government intervention during economic downturns?
a) Friedrich Hayek
b) John Maynard Keynes
c) Adam Smith
d) Joseph Schumpeter
Answer: b) John Maynard Keynes
This economist is associated with the theory of “monetarism” and argued that controlling the money supply is crucial for economic stability.
a) Paul Samuelson
b) John Kenneth Galbraith
c) Milton Friedman
d) Simon Kuznets
Answer: c) Milton Friedman
Who is known for his work on behavioral economics and the concept of “nudge” theory?
a) Paul Krugman
b) Richard Thaler
c) Amartya Sen
d) Alfred Marshall
Answer: b) Richard Thaler
This economist is associated with the “Phillips Curve” which explores the trade-off between inflation and unemployment.
a) Paul Samuelson
b) John Maynard Keynes
c) Milton Friedman
d) A.W. Phillips
Answer: d) A.W. Phillips
Who is known for his research on poverty and development economics, winning the Nobel Memorial Prize in Economic Sciences?
a) Gary Becker
b) Paul Romer
c) Amartya Sen
d) Joseph Stiglitz
Answer: c) Amartya Sen
This economist is associated with the concept of “liquidity preference” and the idea that interest rates are determined by the supply and demand for money.
a) Paul Krugman
b) John Maynard Keynes
c) Friedrich Hayek
d) Alfred Marshall
Answer: b) John Maynard Keynes
Who is known for his work on economic growth theory and the idea of “endogenous growth”?
a) Paul Samuelson
b) John Kenneth Galbraith
c) Robert Solow
d) Simon Kuznets
Answer: c) Robert Solow
This economist is associated with the concept of “consumer surplus” and was a pioneer of neoclassical economics.
a) Milton Friedman
b) Alfred Marshall
c) Paul Krugman
d) Joan Robinson
Answer: b) Alfred Marshall
Who is known for his theory of the “business cycle” and argued that government should take an active role in stabilizing the economy?
a) Friedrich Hayek
b) John Maynard Keynes
c) Adam Smith
d) Joseph Schumpeter
Answer: b) John Maynard Keynes
This economist is associated with the concept of “human capital” and received the Nobel Memorial Prize in Economic Sciences.
a) Gary Becker
b) Paul Romer
c) Amartya Sen
d) Joseph Stiglitz
Answer: a) Gary Becker
Who is known for his advocacy of “trickle-down economics” and tax cuts for high-income individuals?
a) Milton Friedman
b) John Kenneth Galbraith
c) Arthur Laffer
d) Adam Smith
Answer: c) Arthur Laffer
This economist is associated with the concept of “perfect competition” and wrote “The Theory of the Firm.”
a) Paul Krugman
b) John Maynard Keynes
c) Friedrich Hayek
d) Joan Robinson
Answer: d) Joan Robinson
Who is known for his work on the “Heckscher-Ohlin model” and the idea that countries should specialize in producing goods with abundant resources?
a) David Ricardo
b) John Kenneth Galbraith
c) Paul Samuelson
d) Simon Kuznets
Answer: a) David Ricardo
This economist is associated with the concept of “efficiency wages” and won the Nobel Memorial Prize in Economic Sciences.
a) Paul Romer
b) Joseph Schumpeter
c) Robert Solow
d) Joseph Stiglitz
Answer: d) Joseph Stiglitz
Who is known for his theory of “comparative advantage” and argued for free trade.
a) David Ricardo
b) John Kenneth Galbraith
c) Joseph Stiglitz
d) Friedrich Hayek
Answer: a) David Ricardo
This economist is associated with the theory of “opportunity cost” and wrote “Principles of Economics.”
a) Friedrich Hayek
b) Alfred Marshall
c) Paul Krugman
d) Joan Robinson
Answer: b) Alfred Marshall
Who is known for his advocacy of supply-side economics and the idea that tax cuts can stimulate economic growth?
a) Paul Krugman
b) John Maynard Keynes
c) Arthur Laffer
d) Adam Smith
Answer: c) Arthur Laffer
This economist is associated with the theory of “rational expectations” in macroeconomics.
a) Milton Friedman
b) Robert Solow
c) Robert Lucas Jr.
d) Amartya Sen
Answer: c) Robert Lucas Jr.
Who is known for his work on game theory and was awarded the Nobel Memorial Prize in Economic Sciences?
a) John Nash
b) Paul Romer
c) Gary Becker
d) Joseph Stiglitz
Answer: a) John Nash
This economist is associated with the concept of “comparative advantage” and argued for free trade.
a) David Ricardo
b) John Kenneth Galbraith
c) Joseph Stiglitz
d) Friedrich Hayek
Answer: a) David Ricardo
Who is known for his work on behavioral economics and the concept of “nudge” theory?
a) Paul Krugman
b) Richard Thaler
c) Amartya Sen
d) Alfred Marshall
Answer: b) Richard Thaler
This economist is associated with the “Phillips Curve” which explores the trade-off between inflation and unemployment.
a) Paul Samuelson
b) John Maynard Keynes
c) Milton Friedman
d) A.W. Phillips
Answer: d) A.W. Phillips
Who is known for his research on poverty and development economics, winning the Nobel Memorial Prize in Economic Sciences?
a) Gary Becker
b) Paul Romer
c) Amartya Sen
d) Joseph Stiglitz
Answer: c) Amartya Sen
This economist is associated with the concept of “liquidity preference” and the idea that interest rates are determined by the supply and demand for money.
a) Paul Krugman
b) John Maynard Keynes
c) Friedrich Hayek
d) Alfred Marshall
Answer: b) John Maynard Keynes
Who is known for his work on economic growth theory and the idea of “endogenous growth”?
a) Paul Samuelson
b) John Kenneth Galbraith
c) Robert Solow
d) Simon Kuznets
Answer: c) Robert Solow
This economist is associated with the concept of “consumer surplus” and was a pioneer of neoclassical economics.
a) Milton Friedman
b) Alfred Marshall
c) Paul Krugman
d) Joan Robinson
Answer: b) Alfred Marshall
Who is known for his theory of the “business cycle” and argued that government should take an active role in stabilizing the economy?
a) Friedrich Hayek
b) John Maynard Keynes
c) Adam Smith
d) Joseph Schumpeter
Answer: b) John Maynard Keynes
This economist is associated with the concept of “human capital” and received the Nobel Memorial Prize in Economic Sciences.
a) Gary Becker
b) Paul Romer
c) Amartya Sen
d) Joseph Stiglitz
Answer: a) Gary Becker
Who is known for his advocacy of “trickle-down economics” and tax cuts for high-income individuals?
a) Milton Friedman
b) John Kenneth Galbraith
c) Arthur Laffer
d) Adam Smith
Answer: c) Arthur Laffer
This economist is associated with the concept of “perfect competition” and wrote “The Theory of the Firm.”
a) Paul Krugman
b) John Maynard Keynes
c) Friedrich Hayek
d) Joan Robinson
Answer: d) Joan Robinson
Who is known for his work on the “Heckscher-Ohlin model” and the idea that countries should specialize in producing goods with abundant resources?
a) David Ricardo
b) John Kenneth Galbraith
c) Paul Samuelson
d) Simon Kuznets
Answer: a) David Ricardo
This economist is associated with the concept of “efficiency wages” and won the Nobel Memorial Prize in Economic Sciences.
a) Paul Romer
b) Joseph Schumpeter
c) Robert Solow
d) Joseph Stiglitz
Answer: d) Joseph Stiglitz
Who is known for his advocacy of “trickle-down economics” and tax cuts for high-income individuals?
a) Milton Friedman
b) John Kenneth Galbraith
c) Arthur Laffer
d) Adam Smith
Answer: c) Arthur Laffer
This economist is associated with the concept of “perfect competition” and wrote “The Theory of the Firm.”
a) Paul Krugman
b) John Maynard Keynes
c) Friedrich Hayek
d) Joan Robinson
Answer: d) Joan Robinson
Who is known for his work on the “Heckscher-Ohlin model” and the idea that countries should specialize in producing goods with abundant resources?
a) David Ricardo
b) John Kenneth Galbraith
c) Paul Samuelson
d) Simon Kuznets
Answer: a) David Ricardo
This economist is associated with the concept of “efficiency wages” and won the Nobel Memorial Prize in Economic Sciences.
a) Paul Romer
b) Joseph Schumpeter
c) Robert Solow
d) Joseph Stiglitz
Answer: d) Joseph Stiglitz
Who is known for his theory of “creative destruction” and the idea that markets drive economic progress?
a) Joseph Schumpeter
b) John Stuart Mill
c) John Maynard Keynes
d) Amartya Sen
Answer: a) Joseph Schumpeter
This economist is associated with the concept of “opportunity cost” and wrote “Principles of Economics.”
a) Friedrich Hayek
b) Alfred Marshall
c) Paul Krugman
d) Joan Robinson
Answer: b) Alfred Marshall
Who is known for his advocacy of supply-side economics and the idea that tax cuts can stimulate economic growth?
a) Paul Krugman
b) John Maynard Keynes
c) Arthur Laffer
d) Adam Smith
Answer: c) Arthur Laffer
This economist is associated with the theory of “rational expectations” in macroeconomics.
a) Milton Friedman
b) Robert Solow
c) Robert Lucas Jr.
d) Amartya Sen
Answer: c) Robert Lucas Jr.
Who is known for his work on game theory and was awarded the Nobel Memorial Prize in Economic Sciences?
a) John Nash
b) Paul Romer
c) Gary Becker
d) Joseph Stiglitz
Answer: a) John Nash
This economist is associated with the concept of “comparative advantage” and argued for free trade.
a) David Ricardo
b) John Kenneth Galbraith
c) Joseph Stiglitz
d) Friedrich Hayek
Answer: a) David Ricardo
