wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Economists and Theories

Total questions: 89

Worksheet time: 7mins

Name
Class
Date
1.

Public goods should be paid for by governments

a)

David Hume

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

David Ricardo

2.

We should maximize the well-being of the least well-off person in society

a)

David Hume

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

Jeremy Bentham

3.

Demonstrated how large amounts of spending by those at the top of the economic tree (landlords) is multiplied as others receive money from them and re-spend it.

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

4.

Taxes should fall on luxuries.

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Josiah Child

5.

Prices are influenced mainly by the cost of production.

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Jeremy Bentham

6.

Handouts weaken the incentive to work.

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Joseph Schumpeter

7.

Supply creates its own demand.

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

John Stuart Mill

8.

Consumption is the sole purpose of all production.

a)

Adam Smith

b)

Edmund Burke

c)

John Locke

d)

Alfred Marshall

e)

John Maynard Keynes

9.

Inflation is always and everywhere a monetary phenomenon.

a)

Adam Smith

b)

Edmund Burke

c)

John Locke

d)

Milton Friedman

e)

Friedrich Hayek

10.

Prices are directly related to the size of the money supply

a)

Adam Smith

b)

Edmund Burke

c)

Irving Fisher

d)

Milton Friedman

e)

David Ricardo

11.

Perfect competition maximizes social welfare.

a)

Adam Smith

b)

Jeremy Bentham

c)

Irving Fisher

d)

Milton Friedman

e)

Beatrice Webb

12.

Theory of Utilitarianism

a)

Adam Smith

b)

Jeremy Bentham

c)

Irving Fisher

d)

Milton Friedman

e)

Joseph Schumpeter

13.

The main cause of economic prosperity is increasing the division of labor

a)

Adam Smith

b)

Jeremy Bentham

c)

Irving Fisher

d)

Milton Friedman

e)

Joseph Schumpeter

14.

Labor Theory of Value

a)

Adam Smith

b)

Jeremy Bentham

c)

Irving Fisher

d)

Milton Friedman

e)

John Stuart Mill

15.

The value of economic goods derives from the amount of labor necessary to produce them.

a)

Adam Smith

b)

Jeremy Bentham

c)

Irving Fisher

d)

Milton Friedman

16.

First described the relationship between supply and demand in a market economy

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

17.

The more the state “plans”, the more difficult planning becomes for the individual.

a)

Milton Friedman

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

18.

Used mathematics to show how free market competition produces efficient outcomes

a)

Milton Friedman

b)

Friedrich Hayek

c)

Vilfredo Pareto

d)

David Ricardo

e)

John Stuart Mill

19.

Creative destruction

a)

Carl Menger

b)

Friedrich Hayek

c)

Vilfredo Pareto

d)

Joseph Schumpeter

e)

John Stuart Mill

20.

Founded the Austrian School

a)

Carl Menger

b)

Friedrich Hayek

c)

Vilfredo Pareto

d)

Joseph Schumpeter

e)

Max Weber

21.

The Protestant Ethic

a)

Carl Menger

b)

Friedrich Hayek

c)

Vilfredo Pareto

d)

Joseph Schumpeter

e)

Max Weber

22.

Profit comes from innovation, which does not derive from capital or labor.

a)

Carl Menger

b)

Friedrich Hayek

c)

Vilfredo Pareto

d)

Joseph Schumpeter

e)

Max Weber

23.

Economic advisor to Clinton

a)

Joseph Stiglitz

b)

Robert Putnam

c)

Paul Krugman

d)

Larry Kudlow

e)

Gregory Mankiw

24.

Economic advisor to Obama

a)

Joseph Stiglitz

b)

Robert Putnam

c)

Paul Krugman

d)

Larry Kudlow

e)

Gregory Mankiw

25.

Economic advisor to Reagan

a)

Joseph Stiglitz

b)

Robert Putnam

c)

Paul Krugman

d)

Larry Kudlow

e)

Gregory Mankiw

26.

National wealth is created from agriculture

a)

Physiocrats

b)

Mercantilists

c)

Scholasticists

d)

Classical

e)

Anarchist

27.

Marginal Theory of Value

a)

Physiocrats

b)

Mercantilists

c)

Scholasticists

d)

Classical

e)

Anarchist

28.

Unemployment is always a choice—there are jobs if people are prepared to work for lower wages

a)

Physiocrats

b)

Mercantilists

c)

Scholasticists

d)

Classical

e)

Anarchist

29.

Free market, free trade

a)

Physiocrats

b)

Mercantilists

c)

Scholasticists

d)

Classical

e)

Anarchist

30.

Protectionism

a)

Physiocrats

b)

Mercantilists

c)

Scholasticists

d)

Classical

e)

Anarchist

31.

David Hume, David Ricardo, Jeremy Bentham, John Stuart Mill, Karl Marx, Thomas Malthus, Adam Smith, Jean-Baptiste Say

a)

Physiocrat

b)

Mercantilist

c)

Scholasticist

d)

Classical

e)

Anarchist

32.

Otto Von Bismark, Alexander Hamilton, Lincoln, John Q. Adams

a)

Neoclassical

b)

Austrian School

c)

American School

d)

Classical

e)

English Historical School

33.

Alfred Marshall, Irving Fisher, Milton Friedman, Thomas Sowell

a)

Neoclassical

b)

Austrian School

c)

American School

d)

Classical

e)

English Historical School

34.

Ludwig von Mises, Milton Friedman, Carl Menger, Murray Rothbard, Henry Hazlitt

a)

Neoclassical

b)

Austrian School

c)

American School

d)

Classical

e)

English Historical School

35.

David Hume, Milton Friedman, Margaret Thatcher, Alan Greenspan

a)

Neoclassical

b)

Austrian School

c)

American School

d)

Classical

e)

Monetarist

36.

Paul Krugman, Joseph Stiglitz, Gregory Mankiw

a)

Neoclassical

b)

Austrian School

c)

Keynesian

d)

Classical

e)

Monetarist

37.

Father of Mercantilism

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Josiah Child

38.

Higher standards of living are always choked off by population growth

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Thomas Malthus

39.

Warned of the danger of population outstripping resources

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Thomas Malthus

40.

Recessions are how capitalism moves forward, weeding out the inefficient and making way for new growth.

a)

Adam Smith

b)

Jeremy Bentham

c)

Irving Fisher

d)

Milton Friedman

e)

Joseph Schumpeter

41.

As net exports increase, the prices of goods in that country rise.

a)

David Hume

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

David Ricardo

42.

Comparative Advantage

a)

David Hume

b)

Jeremy Bentham

c)

Carl Menger

d)

John Stuart Mill

e)

David Ricardo

43.

The real interest rate equals the nominal interest rate minus the expected inflation rate

a)

Arthur Laffer

b)

Jeremy Bentham

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

44.

Showed the inverse relationship between inflation and unemployment

a)

Arthur Laffer

b)

Jeremy Bentham

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

45.

Showed relationship between tax rates and tax revenues

a)

Arthur Laffer

b)

Jeremy Bentham

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

46.

Elasticity of demand

a)

Arthur Laffer

b)

Alfred Marshall

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

47.

Consumer surplus

a)

Arthur Laffer

b)

Alfred Marshall

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

48.

Land and labor are the two chief factors of production

a)

Arthur Laffer

b)

Alfred Marshall

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

49.

Increased demand for commodities and expansion of the market led to division of labor

a)

Arthur Laffer

b)

Alfred Marshall

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

50.

Law of Diminishing Returns

a)

Arthur Laffer

b)

Alfred Marshall

c)

Irving Fisher

d)

Arthur Pigou

e)

Bill Phillips

51.

The Wealth of Nations

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

52.

The Invisible Hand

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

53.

Principles of Political Economy and Taxation

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

54.

The Road to Serfdom

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

55.

Principles of Economics

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

56.

Treatise on Political Economy

a)

Francois Quesnay

b)

Friedrich Hayek

c)

Jean-Baptiste Say

d)

David Ricardo

e)

Adam Smith

57.

General Theory of Employment, Interest, and Money

a)

David Hume

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

David Ricardo

58.

The Economics of Welfare

a)

Arthur Pigou

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

David Ricardo

59.

History can be understood as a sequence of modes of production in which exploiting classes extract an economic surplus from exploited classes

a)

Karl Marx

b)

Adam Smith

c)

Joseph Proudhon

d)

Pyotr Kropotkin

e)

Mikhail Bakunin

60.

Marginal Utility

a)

David Hume

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

61.

Game Theory

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

62.

Ordinal Utility

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

63.

Substitution Effect

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

64.

Income Effect

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

65.

General Equilibrium Theory

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

66.

Aggregate Demand

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

67.

Sticky Wages

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

68.

Multiplier Effect

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

69.

Propensity to Consume

a)

John R. Hicks

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

70.

Quantity Theory of Money

a)

Milton Friedman

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

71.

Excessively tight monetary policy by the Fed following the boom of the 1920s turned an otherwise normal recession into the Great Depression of the 1930s

a)

Milton Friedman

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

72.

Changes in monetary aggregates explain business cycle fluctuation

a)

Milton Friedman

b)

John Maynard Keynes

c)

Carl Menger

d)

John Rawls

e)

John von Neumann

73.

The Case Against the Fed

a)

Murray Rothbard

b)

Ludwig von Mises

c)

Milton Friedman

d)

Ron Paul

e)

Thomas Sowell

74.

End the Fed

a)

Murray Rothbard

b)

Ludwig von Mises

c)

Milton Friedman

d)

Ron Paul

e)

Thomas Sowell

75.

End the Fed

a)

Murray Rothbard

b)

Ludwig von Mises

c)

Milton Friedman

d)

Ron Paul

e)

Thomas Sowell

76.

Human Action

a)

Murray Rothbard

b)

Ludwig von Mises

c)

Milton Friedman

d)

Ron Paul

e)

Thomas Sowell

77.

The Anatomy of the State

a)

Murray Rothbard

b)

Ludwig von Mises

c)

Milton Friedman

d)

Ron Paul

e)

Thomas Sowell

78.

Basic Economics

a)

Murray Rothbard

b)

Ludwig von Mises

c)

Milton Friedman

d)

Ron Paul

e)

Thomas Sowell

79.

Attacked slavery for being economically inefficient and unproductive

a)

Adam Smith

b)

Edmund Burke

c)

John Locke

d)

Alfred Marshall

e)

John Stuart Mill

80.

Wages are highest not in the wealthiest countries, but in the fastest-growing countries

a)

Adam Smith

b)

Jean Baptiste Say

c)

Thomas Malthus

d)

Sismondi

e)

John Stuart Mill

81.

Theory of Equilibrium Aggregate Income

a)

Adam Smith

b)

Jean Baptiste Say

c)

Thomas Malthus

d)

Sismondi

e)

John Stuart Mill

82.

Father of Interventionism

a)

Adam Smith

b)

Jean Baptiste Say

c)

Thomas Malthus

d)

Sismondi

e)

John Stuart Mill

83.

The distinction between demand and quantity demanded

a)

Adam Smith

b)

Jean Baptiste Say

c)

Thomas Malthus

d)

Sismondi

e)

John Stuart Mill

84.

Theories of Surplus Value, the first great history of economic thought

a)

Adam Smith

b)

Jean Baptiste Say

c)

Thomas Malthus

d)

Sismondi

e)

John Stuart Mill

85.

Paved the way for economics toward abstract models, math, science and syllogistic reasoning

a)

David Hume

b)

Jean Baptiste Say

c)

Alfred Marshall

d)

Sismondi

e)

David Ricardo

86.

Utility Theory of Value

a)

David Hume

b)

Jean Baptiste Say

c)

Alfred Marshall

d)

Sismondi

e)

David Ricardo

87.

A higher rate of savings will cause a higher rate of subsequent growth in aggregate output

a)

David Hume

b)

Jean Baptiste Say

c)

Alfred Marshall

d)

Sismondi

e)

David Ricardo

88.

Aggregate supply always equals aggregate demand

a)

David Hume

b)

Jean Baptiste Say

c)

Alfred Marshall

d)

Sismondi

e)

David Ricardo

89.

There is no limit to profitable economic growth

a)

David Hume

b)

Jean Baptiste Say

c)

Thomas Malthus

d)

Sismondi

e)

David Ricardo

Similar Resources on Wayground

Evaluación suficiencia psicología del niño y del adolescente

89 questions

Evaluación suficiencia psicología del niño y del adolescente

quiz

Worksheet

•

University

ICEV

92 questions

ICEV

quiz

Worksheet

•

9th - 12th Grade

Psychology chap1 (1-44) chap 2(45-86)

94 questions

Psychology chap1 (1-44) chap 2(45-86)

quiz

Worksheet

•

University

sksb kuiz stem 2

90 questions

sksb kuiz stem 2

quiz

Worksheet

•

1st - 12th Grade

TAREA 1_SEMIANUAL

87 questions

TAREA 1_SEMIANUAL

quiz

Worksheet

•

University

LATIHAN USPBK PPKN SMK ANTARTIKA 2 SIDOARJO

90 questions

LATIHAN USPBK PPKN SMK ANTARTIKA 2 SIDOARJO

quiz

Worksheet

•

12th Grade

Grade 12 end of year quiz

85 questions

Grade 12 end of year quiz

quiz

Worksheet

•

11th - 12th Grade

Purple test

90 questions

Purple test

quiz

Worksheet

•

University