27. The Classical School of Economic includes a. Adam Smith, John Stuart Mill, David Ricardo b. Adam Smith, Robert Thomas Malthus, John Maynard Keynes c. William Stanley Jevons, Robert Thomas Malthus, Sir John Steuart d. Sir John Steuart, Adam Smith, David Ricardo
a. Adam Smith, John Stuart Mill, David
Ricardo
(Robert Thomas Malthus was also a classical economist, while all
others mentioned were not a part of The Classical School of
Economics)
27. The Classical School of Economic includes a. Adam Smith, John Stuart Mill, David Ricardo b....
liders and manufacturers 23. Who argued that manufacturing was productive and distinguished value from price because price can only originate in exchange? Vincent, Marquis de Gournay Etienne Bonnot de Condillac François Véron Duverger de Forbannais D Ferdinando Galiani 24. Which figure is NOT identified with the German Enlightenment? A G. W.F. Hegel Immanuel Kant c Johann Gottfried von Herder 25. In An Essay on the History of Civil Society (1767), Adam Ferguson famously wrote that “Every step and every movement...
The policy of laissez-faire was a. promoted by John Stuart Mill b. attacked by Adam Smith c. suggested by Karl Marx d. invented by Lyndon Johnson The free rider problem refers to people who a. will only consume a public good if it is free. b. are not willing to pay for a public good because they lack information about its potential benefits. c. will not voluntarily pay for a public good even though they would benefit from its provision....
Question 40 Liberalism is the political philosophy espoused by a. Robert Nozick. b. John Rawls. c. John Stuart Mill. d. Jeremy Bentham. Question 41 A binding minimum wage a. affects employees but not employers. b. lowers the productivity of workers. c. raises the cost of labor to firms. d. All of the above are correct. Question 42 Economists who support minimum-wage legislation are likely to believe that the a. supply of unskilled labor is relatively inelastic. b. demand for unskilled...
john stuart mill believes that each individual has sovereignty over his/her? a. property b. actions c. freedoms of speech d. body and mind
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a. founder of modern market economics comparative advantage-argument for mutual benefits of international trade comparative advantage-emphasized job displacements of international trade founder of modern macroeconomics invented capitalism duo If a firm has trouble selling its good, it can lower price. increase demand. decrease supply. both a) and b) are correct. 6. People often pay too much for goods because they are not aware of which...
Economic Naturalist A) A good example is John Maynard Keynes. B) A person who understands the laws of nature. Someone who uses insights from economics to make sense of the world. C) An economist who is laissez-faire. D) A hiker who vacations at Yellowstone because it is free.
Adam Smith is known for his creation on the economic concept__. a. Supply and demand b. free market c. lange model d. scarcity
QUICK CHECK multiple choice 1. When the economy goes into a recession, real GDP —and unemployment a. rises, rises b. rises, falls c. falls, rises d. falls, falls 2. Which of the following is shifted by a sudden crash in the stock market? a. the aggregate-demand curve b. the short-run aggregate-supply curve, but not the long-run aggregate-supply curve c. the long-run aggregate-supply curve, but not the short-run aggregate-supply curve d. both the short-run and the long-run aggregate- supply curves PART...
Match the following: 2. Adam Smith 3. Karl Marx 4. John Maynard Keynes Choices: (2 are not used.) a. invented capitalism b. invented socialism c. founder of modern macroeconomics d. founder of modern market economics e. predicted the end of capitalism 5. If a firm has trouble selling its good, it can a. lower price. b. increase demand. c. decrease supply. d. both a) and b) are correct. 6. People often pay too much for goods because they are not...
answer 1-25 answer 1-25 answer 1-25 answer 1-25 A John Stuart Mill B Socrates Tc Holistic Charity E Humility MATCHING. Place the letter next to the number. 1.German Philosopher, known for his theory of a single moral obligation, a categorical imperative, derived from a concept of duty. Imperatives are principles that are valid, good in and of themselves, and must be obeyed by all in all situations 2. Forgiveness, mercy and suffering, the opposite of anger and wrath 3. Persistence,...