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WorksheetsCIA II Examination - Economics
Total questions: 20
Worksheet time: 10mins
The central idea of Marx's philosophy is:
Idealism
Dialectical Materialism
Positivism
Pragmatism
According to Marx, history progresses through:
Evolutionary cooperation
Class struggle between opposing forces
Natural selection
Peaceful coexistence of classes
According to Marx, the value of a commodity is determined by:
Market demand
Scarcity of the product
Average labour time required to produce it
Utility to the consumer
The difference between the value created by labour and the wages paid is called:
Capital accumulation
Surplus value
Profit maximization
Rent
According to Marx, exploitation of workers arises because:
They work fewer hours
They are paid less than the value they create
They are owners of means of production
They consume more than they produce
Concentration of capital means:
Expansion of small businesses
Accumulation of capital into fewer hands
Equal distribution of wealth
Decline of industrial production
Which consequence of concentration of capital did Marx predict?
Rise of self-employment
Elimination of class struggle
Widening gap between bourgeoisie and proletariat
State control of religion
Identify the thinker regarded as the intellectual father of modern scientific socialism.
Karl Marx
Schumpeter
Rostow
Rodan
Identify the author of the book Das Kapital.
Friedman
Higgins
J.R. Hicks
Marx
Identify the year in which the book The General Theory of Employment, Interest and Money was published.
1936
1932
1817
1871
Identify the pioneer of the modern study of macroeconomics.
Adam Smith
J M Keynes
Menger
Karl Marx
Keynes opposed the classical belief in:
Automatic full employment through free markets
Role of government intervention
Importance of aggregate demand
Use of fiscal policy
According to Keynes, consumption is mainly determined by:
Population growth
Current disposable income
Interest rate fluctuations
Government policies only
A key policy recommendation of Keynesian economics is:
Laissez-faire without state intervention
Active government intervention through fiscal and monetary policy
Abolition of trade unions
Restriction of international trade
The 'multiplier' concept introduced by Keynes shows:
The ratio of exports to imports
The process by which investment leads to multiple increases in income
The impact of wages on inflation
The decline in value of money
The fraction of additional income that is spent on consumption is called:
Average Propensity to Save
Marginal Propensity to Consume
Marginal Efficiency of Capital
Consumption Multiplier
State the main factor determining employment in Keynesian theory.
Elasticity of demand
Effective Demand
Effective cost
Effective surplus
Identify the term commonly used as a synonym for government investments.
Induced
Autonomous
Speculative
Contractual
Identify the variable that governs the Precautionary demand for money.
Income
Profit
Rate of interest
Volume of business
The multiplayer concept was introduced by Keynes show
The ratio of exports to imports
The process by which investment leads to multiple increase in income
The impact of veg of inflationary
The decline in value of money
