HSECONT Quiz Bee #2

Question 1

Its rigidity to any other methodology except the historical method led to its stagnation

Accepted Answer

German historical school

Question 2

Due to the population theory, any attempt to improve the economic welfare of the lower class was deemed futile.

Accepted Answer

TRUE

Question 3

Manifested in art, literature, philosophy, law, religion and cultural norms

Accepted Answer

Relations of production

Question 4

If Hegel was to idealism, Marx was to…

Accepted Answer

materialism

Question 5

The population theory is influential as it was a precursor to the wages fund doctrine

Accepted Answer

TRUE

Question 6

Evolutionary development of capitalism is only understood…

Accepted Answer

under the marxian framework

Question 7

Characterized by technology used to produce material goods

Accepted Answer

Forces of production

Question 8

The formalist revolution in microeconomics won over Marshallian economics in the 1930s

Accepted Answer

TRUE

Question 9

It is more difficult to be heterodox now as the field is more accepting

Accepted Answer

TRUE

Question 10

The German Historical School criticized orthodox economics for…

Accepted Answer

its methodology

Question 11

The time periods defined by Marshall referred to specific time spans

Accepted Answer

FALSE

Question 12

Malthus’ population theory can be attributed to the ff EXCEPT for

Accepted Answer

Religious upbringing

Question 13

The era of modeling started after the marginalist revolution

Accepted Answer

FALSE

Question 14

Marginal utility theory was developed in the modern economics period

Accepted Answer

FALSE

Question 15

According to Marshall, the aim of economics was…

Accepted Answer

The elimination of poverty

Question 16

The long run was a concept developed during the…

Accepted Answer

Neoclassical period

Question 17

Paul Samuelson in Foundations for Economic Analysis criticized the historical method for

Accepted Answer

being less efficient

Question 18

The ff are notable thinkers of the marginalist revolution EXCEPT for

Accepted Answer

Francois Quesnay

Question 19

One reason for the marginalist revolution was rising income with rising population in Great Britain

Accepted Answer

TRUE

Question 20

He is considered the father of neoclassical economics

Accepted Answer

Alfred Marshall

Question 21

The beginning of the end of Marshallian economics was

Accepted Answer

The acceptance of geometric tools

Question 22

The __ technique holds all other variables constant at a theoretical level

Accepted Answer

Ceteris paribus

Question 23

General equilibrium analysis leads to a system of simultaneous equations

Accepted Answer

TRUE

Question 24

One of the biggest debates in economics was on…

Accepted Answer

Methodology

Question 25

Before Marx, which thinker discussed the way in which societies evolve?

Accepted Answer

Ibn Khaldun

Question 26

Neoclassical economics answered the question of __________ which classical couldn't

Accepted Answer

Value

Question 27

What is your HSECONT professor&#x27;s nickname?

Accepted Answer

Isa

Question 28

Malthus concluded that population increases arithmetically while food supply geometrically

Accepted Answer

FALSE

Question 29

Father of modern welfare economics

Accepted Answer

Vilfredo Pareto

Question 30

Marx's theory of history was inspired by…

Accepted Answer

All of the above

Question 31

Assumed market equilibrium as good without proof was a criticism under

Accepted Answer

Institutionalism

Question 32

Engineering rather than science was a criticism of

Accepted Answer

Alfred Marshall

Question 33

Neoclassical economics' defining element is…

Accepted Answer

Marginal analysis

Question 34

If Marshall is to undergraduate economics, ___ is to graduate economics.

Accepted Answer

Leon Walras

Question 35

A condition in which the individual is isolated from society, work and self

Accepted Answer

Alienation

Question 36

_____ proved that Adam Smith's invisible hand works under some conditions

Accepted Answer

Gerard Debreu and Kenneth Arrow

Question 37

What made Karl Marx different from orthodox thinkers during the classical period?

Accepted Answer

All of the above

Question 38

The writings of Karl Marx mostly revolved around discusssions on socialism and communism

Accepted Answer

FALSE

Question 39

Marshall answered the question of value with his…

Accepted Answer

Marshallian Cross

Question 40

Abstract mathetatical methodology was embraced in Germany during the neoclassical period

Accepted Answer

FALSE

Question 41

A fatal flaw in Malthus' population theory is that it…

Accepted Answer

Didn't consider population control through contraception

Question 42

____ proved the existence of a general equilibrium solution

Accepted Answer

Gerard Debreu and Kenneth Arrow

Question 43

Karl Marx was a man living in…

Accepted Answer

the industrial revolution

HSECONT Quiz Bee #2

Questions 43

HSECONT Quiz Bee #2

Questions 43