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Economics: Beyond Supply and Demand

Economics studies how people, firms and governments make choices under scarcity.

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  • Ересектер
  • Қиын
  • Байыпты
  • 8 сұрақ
  • шамамен 4 мин
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  1. 1-сұрақ

    A Giffen good is one whose quantity demanded does what as its price rises?

    • Increases
    • Falls sharply
    • Stays exactly the same
    • Becomes perfectly elastic
  2. 2-сұрақ

    Which theory states that rational consumers spend based on expected lifetime income rather than current income?

    • Keynesian consumption function
    • Permanent income hypothesis
    • Ricardian equivalence
    • Say's law
  3. 3-сұрақ

    The 'impossible trinity' says a country cannot simultaneously have a fixed exchange rate, free capital movement and what?

    • A balanced budget
    • Low inflation
    • An independent monetary policy
    • Full employment
  4. 4-сұрақ

    What does the Phillips curve originally describe?

    • Tax rates versus tax revenue
    • Income versus environmental damage
    • Interest rates versus investment
    • Unemployment versus wage inflation
  5. 5-сұрақ

    In game theory, a Nash equilibrium is reached when:

    • No player can gain by changing strategy alone
    • All players maximise joint payoff
    • One player dominates all others
    • Every outcome is Pareto efficient
  6. 6-сұрақ

    A Gini coefficient of 0 indicates:

    • Perfect inequality
    • No economic growth
    • Perfect equality of income
    • Zero inflation
  7. 7-сұрақ

    Which economist coined the term 'creative destruction'?

    • John Maynard Keynes
    • Joseph Schumpeter
    • Friedrich Hayek
    • Alfred Marshall
  8. 8-сұрақ

    A liquidity trap occurs when monetary policy fails because:

    • Inflation is too high
    • Banks hold too little reserve
    • Exchange rates are fixed
    • Interest rates are near zero and people hoard cash
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