Practice Test Gertmenian

Front 1

What numbers assign rank?

Back 1

ordinal

Front 2

What numbers assign value

Back 2

cardinal

Front 3

The assumption that more is preferred to less?

Back 3

Rationality

Front 4

A value on the X axis is called what?

Back 4

Abscissa

Front 5

A value on the Y axis is called what?

Back 5

Ordinate

Front 6

A point on the graph which display both these values is called what?

Back 6

coordinate

Front 7

What is the catalytic factor of production

Back 7

Entreprenuer

Front 8

The Wealth of Nations set forth priciples of free trade using what doctrine?

Back 8

Invisible Hand Doctrine

Front 9

What group of economists believed in Free Trade?

Back 9

Classical Economists

Front 10

When the price of one good is decreased, and it becomes an attractive alternative to another good, the quantitiy demanded is?

Back 10

Increased

Front 11

Conspicuous Consumption occurs when what effect is reversed?

Back 11

Substitution

Front 12

The indifference curve of a perfect substitute is, straight, linear, convex, or concave?

Back 12

linear

Front 13

The point at wich the indifference curve approaches but doesn't touch each axis?

Back 13

Asymptote

Front 14

Wealth = Goods + Services is what?

Back 14

Quantity Theory of Money

Front 15

Assuming what is true for the part to be true for the whole?

Back 15

Fallacy of Composition

Front 16

Reasoning from the particular to the general?

Back 16

Inductive

Front 17

Reasoning from the general to the particular?

Back 17

Deductive

Front 18

An analysis which considers all significant variables over a time series?

Back 18

Dynamic

Front 19

An economic good is ______ and therefore commands a ________.

Back 19

scarce and price

Front 20

What is the secondary factor of production?

Back 20

capital

Front 21

Indifference curve

Back 21

Edgeworth

Front 22

Classical rent doctrine and the labor theory of value

Back 22

Ricardo

Front 23

Founded the Academy, wrote the Republic

Back 23

Plato

Front 24

Consumer surplus, theory of the firm

Back 24

Marshall

Front 25

Wealth of Nations

Back 25

Smith

Front 26

Law of diminishing returns

Back 26

Malthus

Front 27

Replace social security with negative income tax

Back 27

Milton Friedman

Front 28

Quantity theory of money

Back 28

David Hume

Front 29

Concept of demand, Father of European market

Back 29

Monnet

Front 30

Educational vouchers. Negative income tax

Back 30

Milton Friedman

Front 31

Law of supply and demand
(equilibrium theory)

Back 31

Walrus

Front 32

Father of physiocracy

Back 32

Quesnay

Front 33

Just price just wage

Back 33

St. Thomas Aquinas

Front 34

Capitalism will lead to democratic socialism

Back 34

Schumpeter

Front 35

Law of diminishing marginal utility, study of natural laws

Back 35

Carl Menger

Front 36

Law of Comparative Advantage

Back 36

Ricardo

Front 37

The Utility Theory

Back 37

John Stuart Mill

Front 38

Business Cycle

Back 38

Karl Marx

Front 39

He was a demographer and pessimist.

Back 39

Malthus

Front 40

Single Tax

Back 40

Reynold's System

Front 41

If it is price then it is a free good?

Back 41

False

Front 42

When you economize, you minimize input with the given output?

Back 42

True

Front 43

Economics is an engine for the discovery of concrete truths?

Back 43

True

Front 44

An ! after an integer is called an absolute value?

Back 44

False

Front 45

Concept of Division of Labor was first developed by Mencius?

Back 45

True

Front 46

Plato called his inductive form of logic the dialectics?

Back 46

True

Front 47

Confucius wrote the Golden Rule?

Back 47

True

Front 48

Colbert wrote "Discourse on Trade"?

Back 48

False

Front 49

Aristotle's deductive logic tests used syllogistic logic?

Back 49

True

Front 50

Plato founded the Lyceum

Back 50

False

Front 51

Marshall said economices is the study of natural law?

Back 51

False

Front 52

Capital is the primary factory of production according to Ricardo?

Back 52

False

Front 53

Jean Colbert was a mercantilist?

Back 53

True

Front 54

St. Thomas Aquinas believed in just price, just wage?

Back 54

True

Front 55

Quesnay wrote "Tableau Economique"?

Back 55

True

Front 56

Malthus believed in comparative advantage?

Back 56

False

Front 57

To economize is to maximize output with given inputs?

Back 57

False

Front 58

Ricardo came up with the concept of Comparative Advantage?

Back 58

True

Front 59

Mills founded the "Utility Theory"?

Back 59

True

Front 60

If the price of an inferior good was decreased, and your real income increases, you would buy more of that good?

Back 60

False

Front 61

Plato called his inductive form of logic the dialectics?

Back 61

True

Front 62

Confucius wrote the Golden Rule?

Back 62

True

Front 63

Colbert wrote "Discourse on Trade"?

Back 63

False

Front 64

Aristotle's deductive logic tests used syllogistic logic?

Back 64

True

Front 65

Plato founded the Lyceum

Back 65

False

Front 66

Marshall said economices is the study of natural law?

Back 66

False

Front 67

Capital is the primary factory of production according to Ricardo?

Back 67

False

Front 68

Jean Colbert was a mercantilist?

Back 68

True

Front 69

St. Thomas Aquinas believed in just price, just wage?

Back 69

True

Front 70

Quesnay wrote "Tableau Economique"?

Back 70

True

Front 71

Malthus believed in comparative advantage?

Back 71

False

Front 72

To economize is to maximize output with given inputs?

Back 72

False

Front 73

Ricardo came up with the concept of Comparative Advantage?

Back 73

True

Front 74

Mills founded the "Utility Theory"?

Back 74

True

Front 75

If the price of an inferior good was decreased, and your real income increases, you would buy more of that good?

Back 75

False

Front 76

The fallacy of composition occurs with what type of logic?

Back 76

Inductive

Front 77

Economic Goods are _______ while free goods are not?

Back 77

Scarce

Front 78

Minimizing inputs with a given level of output is called what?

Back 78

Economy

Front 79

A time series of analysis of all significant variables is called?

Back 79

Dynamic

Front 80

Marginal cost is the slope of?

Back 80

Total Cost

Front 81

What you wuld have gotten in the best thing you did not do is called?

Back 81

opportunity cost

Front 82

What is an economist's word for money?

Back 82

Money

Front 83

What is the frontier line of maximum output capabilities that may be achieved when all available facors of production are being fully employed at their highest and best use called?

Back 83

PPC

Front 84

Output is called what?

Back 84

product

Front 85

Economic Rent is a payment to what?

Back 85

A factor of production

Front 86

What are "Primary Factors"?

Back 86

Land and Labor

Front 87

What is the "Secondary Factor"?

Back 87

Capital

Front 88

A factory pollutes a stream as a by product of its production is creating what?

Back 88

external diseconomy

Front 89

Marxism is distribution according to need, meritocracy is distribution according to?

Back 89

scarcity

Front 90

A weight decreasing industry would tend to operate near?

Back 90

Raw materials

Front 91

First person to develop the concept of "Division of Labor"?

Back 91

Mencius

Front 92

Who proposed the ideal communistic state in The Republic?

Back 92

Plato

Front 93

Who thought the Lyceum had a better football team than the academy?

Back 93

Aristotle

Front 94

This Dominican monk and School of Man was the author of Summa Theologica?

Back 94

St. Thomas Aquinas

Front 95

I'm a "Bullionist" in England, who is my ideological leader?

Back 95

Thomas Mun

Front 96

My French Mercantilist friends would look up to whom?

Back 96

Jean Baptiste Colbert

Front 97

A mercantilist would support Nafta?

Back 97

False

Front 98

Stationary State Doctrine is to Ricardo as Iron Law Of Wages is to Marx?

Back 98

Karl Marx

Front 99

Who developed the indifference curve to measure ordinal utility?

Back 99

Edgeworth

Front 100

How many terms are in
4X^7*X+7X^6(X)+9X^5?

Back 100

3