Social Science Quiz 1

Front 1

Keynes

Back 1

The economic model named for this thinker is based on the multiplier effect

Front 2

Keynes

Back 2

This economist argued that increased private saving leads to a higher interest rate in his refutation of Say's Law, and attacked the Treaty of Versailles in The Economic Consequences of the Peace

Front 3

Keynes

Back 3

His theory that increased government spending can cure recessions was applied by Franklin Roosevelt in the Great Depression

Front 4

Keynes

Back 4

name this British economist who advanced his ideas in The General Theory of Employment, Interest, and Money

Front 5

Keynes

Back 5

Along with John Hicks, this man developed a theory of normal backwardation in futures trading

Front 6

Keynes

Back 6

This man led the British delegation at the Breton Woods Conference; after an earlier postwar settlement,

Front 7

Keynes

Back 7

he denounced the heavy reparations placed on Germany in his Economic Consequences of the Peace

Front 8

Keynes

Back 8

He introduced the concept of demand-determined economic output in a work describing how government fiscal policy could regulate extremes in business cycles

Front 9

Keynes

Back 9

This man mocked Jevons's willingness to treat any unexamined hypothesis as equally likely as unlikely in a chapter on induction in his Treatise on Probability

Front 10

Keynes

Back 10

He declared that “demand creates its own supply” and introduced the idea of price-stickiness

Front 11

Veblen

Back 11

He coined the phrase penalty of taking the lead in a 1915 work, Imperial Germany and the Industrial Revolution

Front 12

Veblen

Back 12

He asserted that the machine process surpassed the titular entity as industries standardize and drive for precision in The Theory of Business Enterprise.

Front 13

Veblen

Back 13

His best known work contains a noted section on fur trade, explains the subjugation of women and the growth of sports with the titular concept, and dismisses both religion and etiquette as forms of conspicuous consumption

Front 14

Veblen

Back 14

identify this Norwegian-American economist and author of The Theory of the Leisure Class

Front 15

Veblen

Back 15

in one paper, this thinker argued that technological advancement in “machine processes” occurs because of the “instinct of workmanship.”

Front 16

Veblen

Back 16

He wrote a work in which the title group is likened to barbarians because its members do not produce, but merely make money by shuffling around what others make

Front 17

Veblen

Back 17

He names a set of luxury goods for which the demand increases as price increases

Front 18

Veblen

Back 18

He coined the phrase “conspicuous consumption” to describe the title social group of one of his works

Front 19

Veblen

Back 19

This economist wrote a work on “the conduct of universities by business men” entitled The Higher Learning in America

Front 20

Veblen

Back 20

He lends his name to a type of luxury good which violates the law of demand.

Front 21

Galbraith

Back 21

This economist argued that central planning and vertical integration replace supply and demand in large corporations in The New Industrial State

Front 22

Galbraith

Back 22

His most famous work popularized the phrase "conventional wisdom" and illustrated how post-World War II income disparities arose partly from a wealthy private sector despite a poor public sector.

Front 23

Galbraith

Back 23

This man argued that organized labor and the federal government could replace free market competition as the primary check on corporate power and that the titular concept was a "self-generating force" in one work

Front 24

Galbraith

Back 24

In another work, he argued that large companies undermine supply and demand via advertising and vertical integration and that shareholders were losing control of their companies to a techno-structure of managers.

Front 25

Galbraith

Back 25

This author of American Capitalism: The Concept of Countervailing Power wrote that though the private sector grew rich, the social and public infrastructure remained stagnant, allowing income disparities to remain

Front 26

Galbraith

Back 26

The author of How to Get out of Vietnam, his time observing postwar Germany resulted in a tract on the “rural poor”, entitled The Nature of Mass Poverty

Front 27

Galbraith

Back 27

He cites speculation, corporate structure, and high tariffs as the main causes of the title event in his The Great Crash, 1929, but is more famous for a work in which he argues that perfect competition no longer applies to corporate economies, and another about the gap between the public and private sector after WWII

Front 28

Galbraith

Back 28

name this author of The New Industrial State and The Affluent Society

Front 29

Galbraith

Back 29

This economist used trade unions as an example of the widespread concept of “countervailing power” in his book American Capitalism.

Front 30

Galbraith

Back 30

In his magnum opus, he cites General Motors in exploring the relationship between the number of large firms and lack of competitiveness in the economy

Front 31

Galbraith

Back 31

In perhaps his most famous work, he discussed “the way wants depend on the process by which they are satisfied” in a chapter titled “The Dependence Effect” and coined a phrase meaning “ideas which are esteemed at any time for their acceptability

Front 32

Pareto

Back 32

This man stated that the vestiges of sentiments can be observed in residues in his theory of nonrational motivation, and he stated that upper classes in society hold non-rational authority over the lower classes by using rationalizing derivations

Front 33

Pareto

Back 33

The formulator of the theory of the circulation of the elites, this author of Mind and Society introduced the use of indifference curves.

Front 34

Pareto

Back 34

name this Italian social scientist whose namesake optimality occurs when the welfare of one individual cannot be improved without reducing the welfare of another

Front 35

Pareto

Back 35

Lawrence Henderson established a group named for this man at Harvard University in 1932, which counted George Homans and Talcott Parsons among its members, while M. J. Farrell developed a principle of data analysis that is named for this man and Tjalling Koopmans

Front 36

Pareto

Back 36

The first theorem of welfare guarantees that every competitive equilibrium outcome will satisfy the condition named for him, and a more generic interpretation of that condition, which factors in compensation between parties, is named for Hicks and Kaldor.

Front 37

Pareto

Back 37

A rule which states that 80% of the effects can be attributed to 20% of the causes is known as his "80-20" principle

Front 38

Pareto

Back 38

In 1893, this person wrote an introduction to Das Kapital that agreed with its view of history as a class struggle but disagreed that Communism would bring about a classless society

Front 39

Pareto

Back 39

This person also argued that only ordinal utility was necessary rather than quantitative utility in his Manual of Political Economy.

Front 40

Pareto

Back 40

This writer's study of income distributions led to the generalization that twenty percent of a population controls eighty percent of its wealth

Front 41

Ricardo

Back 41

Robert Barro named this man's equivalence theorem, which states government deficits are anticipated by individuals who increase their saving

Front 42

Ricardo

Back 42

Piero Sraffa is one member of the school named for this man, who illustrated one of his theories using Portuguese wine and English cloth

Front 43

Ricardo

Back 43

He argued for the repeal of the Corn Laws, and his works include The High Price of Bullion and Principles of Political Economy and Taxation

Front 44

Ricardo

Back 44

He outlined his theory of distribution of the things that can be produced by landlords, workers, and owners of capital in his Principles of Political Economy and Taxation

Front 45

Ricardo

Back 45

He believed that workers' income remains at the subsidence level despite government intervention; that theory is the Iron Law of Wages

Front 46

Ricardo

Back 46

Another of his theories states that even if one country can produce everything more efficiently than another country, it should not hinder free trade between the countries.

Front 47

Ricardo

Back 47

This thinker searched for a “standard commodity” that would reflect his “labor-embodied” theory of value

Front 48

Ricardo

Back 48

Roberto Barro developed a theory of government finance called this man's "equivalence."

Front 49

Ricardo

Back 49

He discussed situations where scarcity of land led to disproportionate individual benefit for landlords compared to the real social value of their land as examples of his namesake rent.

Front 50

Ricardo

Back 50

He criticized the agricultural tariffs imposed by the Corn Laws and wrote Principles of Political Economy and Taxation, in which he introduced comparative advantage.