Which of the following was not a classical economist ?

Related Mcqs:

1. The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

   A. have few substitutes.
   B. are normal goods
   C. have few complementary goods.
   D. have many complementary goods.

2. Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?

   A. None of these answers
   B. Disagree because they have different scientific judgments
   C. really don’t disagree at all. It just appears that they disagree
   D. disagree because they have different values

3. Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

   A. really don’t disagree at all It just appears that they disagree.
   B. disagree because they have different values.
   C. none of these answers.
   D. disagree because they have different scientific judgments.

4. In making which of the following statements is an economist acting more like a scientist ?

   A. A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.
   B. The rate of inflation should be reduced because it robs the elderly of their savings.
   C. The unemployment rate should be reduced because unemployment robs individuals of their dignity.
   D. The state should increase subsidies to universities because the future of our country depends on education.

5. The comparative advantage comes if each trading partners has a product that will bring a better price in another country than it will at home. Which economist proposed the principle of comparative advantage ?

   A. Adam Smith
   B. David Ricardo
   C. David Smith
   D. Adam Ricardo

6. When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?

   A. trade diversion
   B. trade channeling
   C. trade creation and trade diversion
   D. trade creation

7. By financial crowding out economist mean ?

   A. credit rationing
   B. government borrowing drives up interest rates
   C. Bank of England controls on commercial bank lending
   D. what the government borrows cannot be used for private investment

8. In 2000, the Economist estimated that only _________ of some 360 million internet users were in Africa ?

   A. 60 million
   B. 10 million
   C. 3 million
   D. million

9. Polish economist Oskar Lange’s model of decentralized ______ combined the advantages of market allocation with more uniform income distribution by dividing the returns from social ownership of nonhuman productive resources among the whole population ?

   A. market socialism
   B. capitalism
   C. mixed economy
   D. monopoly

10. You can see the computer age everywhere but, in the productivity, statistics is a attributed to which economist ?

    A. Dale Jorgenson
    B. Joseph Stieglitz
    C. Robert Solow
    D. Theodore W. Schultz