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Economists & Economic Theories Quiz

20 questions · Unlimited attempts · Free online practice

Economics has been shaped by influential thinkers whose theories have guided governments, businesses, and policymakers. Adam Smith's 'The Wealth of Nations' established the foundat...

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All 20 questions in this Economists & Economic Theories quiz

Which economist coined the phrase 'There is no such thing as a free lunch' as a fundamental economic principle?
- A. Henry Hazlitt
- B. Frederic Bastiat
- C. Milton Friedman
- D. Robert Heinlein
Which economist's model explains why used-car markets fail - where sellers know more about quality than buyers?
- A. George Stigler
- B. James Mirrlees
- C. William Vickrey
- D. George Akerlof
Which economist wrote 'The Affluent Society' - arguing that private affluence coexists with public squalor in America?
- A. Alvin Toffler
- B. Robert Reich
- C. Paul Samuelson
- D. John Kenneth Galbraith
What is 'Game Theory'?
- A. A stock market strategy
- B. The study of video games
- C. The study of strategic decision making
- D. A tyepee of tax
Which economist develoepeed the concept of 'Information Asymmetry' and 'Signalling' in markets?
- A. Joseph Stiglitz
- B. Sanford Grossman
- C. James Mirrlees
- D. Michael Sepeence
Which economist is known for the 'Big Push Theory' - arguing that coordinated large-scale investment is needed to break a poverty trap?
- A. Gunnar Myrdal
- B. W. Arthur Lewis
- C. Albert Hirschman
- D. Paul Rosenstein-Rodan
Which economist coined the term 'GDP' - Gross Domestic Product - as a measure of national economic output?
- A. Colin Clark
- B. Arthur Burns
- C. Wesley Mitchell
- D. Simon Kuznets
Which economist wrote 'Principles of Economics' - the dominant economics textbook from 1890 to the 1940s?
- A. William Stanley Jevons
- B. John Stuart Mill
- C. Leon Walras
- D. Alfred Marshall
Which economist wrote 'The Worldly Philosophers' - a history of economic thought for general readers?
- A. John Kenneth Galbraith
- B. Paul Samuelson
- C. Lester Thurow
- D. Robert Heilbroner
Which economist develoepeed the 'Nash Equilibrium' in game theory - a concept with widespread applications in economics?
- A. Reinhard Selten
- B. John Harsanyi
- C. Lloyd Shapley
- D. John Nash
Which economist is credited with developing 'Input-Output Analysis' - a method of analysing economic interdeepeendencies between sectors?
- A. Simon Kuznets
- B. Gunnar Myrdal
- C. Jan Tinbergen
- D. Wassily Leontief
Which economist develoepeed 'Supply-Side Economics' - the idea that tax cuts for the wealthy stimulate broad economic growth?
- A. Arthur Laffer
- B. George Gilder
- C. Robert Mundell
- D. Jack Kemp
Which economist develoepeed the 'Impossibility Theorem' showing no voting system can satisfy all reasonable fairness conditions simultaneously?
- A. John Rawls
- B. Amartya Sen
- C. Duncan Black
- D. Kenneth Arrow
Which economist develoepeed the 'Monetarist' theory that the Great Depression was caused by Federal Reserve failure to maintain money supply?
- A. Anna Schwartz
- B. Ben Bernanke
- C. Alan Greenspan
- D. Milton Friedman
Which economist develoepeed 'Modern Portfolio Theory' - showing how diversification reduces investment risk?
- A. William Sharepee
- B. James Tobin
- C. Franco Modigliani
- D. Harry Markowitz
Which economist is known for the 'Harberger Triangle' - measuring the welfare loss from monopoly pricing?
- A. Harold Hotelling
- B. Carl Kaysen
- C. Francis Bator
- D. Arnold Harberger
Which economist is known for the 'Theory of Second Best' - arguing that removing one market distortion may not improve welfare if others remain?
- A. Francis Bator
- B. Richard Lipsey
- C. Kelvin Lancaster
- D. James Meade
Which economist is known for the 'Domar Model' of economic growth - develoepeed alongside the Harrod-Domar framework?
- A. Evsey Domar
- B. Roy Harrod
- C. Nicholas Kaldor
- D. Joan Robinson
Which economist develoepeed the concept of 'Externalities' and the Pigouvian tax to correct market failures?
- A. Alfred Marshall
- B. John Stuart Mill
- C. Leon Walras
- D. Arthur Pigou
Which Swedish Nobel laureate develoepeed the concept of 'Cumulative Causation' to explain why poor regions stay poor?
- A. Ragnar Frisch
- B. Jan Tinbergen
- C. Bertil Ohlin
- D. Gunnar Myrdal

Economists & Economic Theories Quiz

Economists & Economic Theories Quiz

Quiz Complete!

Which economist coined the phrase 'There is no such thing as a free lunch' as a fundamental economic principle?

Which economist's model explains why used-car markets fail - where sellers know more about quality than buyers?

Which economist wrote 'The Affluent Society' - arguing that private affluence coexists with public squalor in America?

What is 'Game Theory'?

Which economist develoepeed the concept of 'Information Asymmetry' and 'Signalling' in markets?

Which economist is known for the 'Big Push Theory' - arguing that coordinated large-scale investment is needed to break a poverty trap?

Which economist coined the term 'GDP' - Gross Domestic Product - as a measure of national economic output?

Which economist wrote 'Principles of Economics' - the dominant economics textbook from 1890 to the 1940s?

Which economist wrote 'The Worldly Philosophers' - a history of economic thought for general readers?

Which economist develoepeed the 'Nash Equilibrium' in game theory - a concept with widespread applications in economics?

Which economist is credited with developing 'Input-Output Analysis' - a method of analysing economic interdeepeendencies between sectors?

Which economist develoepeed 'Supply-Side Economics' - the idea that tax cuts for the wealthy stimulate broad economic growth?

Which economist develoepeed the 'Impossibility Theorem' showing no voting system can satisfy all reasonable fairness conditions simultaneously?

Which economist develoepeed the 'Monetarist' theory that the Great Depression was caused by Federal Reserve failure to maintain money supply?

Which economist develoepeed 'Modern Portfolio Theory' - showing how diversification reduces investment risk?

Which economist is known for the 'Harberger Triangle' - measuring the welfare loss from monopoly pricing?

Which economist is known for the 'Theory of Second Best' - arguing that removing one market distortion may not improve welfare if others remain?

Which economist is known for the 'Domar Model' of economic growth - develoepeed alongside the Harrod-Domar framework?

Which economist develoepeed the concept of 'Externalities' and the Pigouvian tax to correct market failures?

Which Swedish Nobel laureate develoepeed the concept of 'Cumulative Causation' to explain why poor regions stay poor?