Risk Latte - Financial Economics & Economic Sciences Quiz – Quiz #4

Financial Economics & Economic Sciences Quiz– Quiz #4

Team Latte
January 28, 2009


  1. In 1962 a Japanese economist published a paper in the Journal of Developing Economies which laid the paradigm (model) of the technological development and growth of the economies of South East Asia. The economist was:

    (a) Akio Morita
    (b) Kaname Akamatsu
    (c) Shinzo Koizumi
    (d) Baron Takahashi


  2. The paradigm espoused by this economist, which later became the accepted model of growth and development for all developing and emerging nations of South East Asia, was known as:

    (a) the Flying Geese paradigm
    (b) the Roaring Tiger paradigm
    (c) the Predator Prey paradigm
    (d) None of the above;


  3. The phrase "conventional wisdom" was greatly popularized by which famous economist?

    (a) Paul Samuelson
    (b) John Kenneth Galbraith
    (c) Irving Fisher
    (d) George Ackerloff


  4. The Input-Output model of economy was developed by:

    (a) Robert Solow
    (b) Paul Douglas
    (c) Wassily Leontief
    (d) Paul Krugman


  5. The Input-Output model:

    (a) Measures the changes in the output of a production function with changes
               in the input of labour and capital;
    (b) the inter industry relationships within an economy and using a matrix
               representation of a nation's economy tries to predict the effect of changes
               in one industry on other industries within an economy;
    (c) is a mathematical model of international trade and tries to predict patterns
                of commerce and production based on factor endowments;
    (d) is part of the theory of economic geography developed by Paul Krugman for
                which he recently received the Nobel Prize;


  6. The "impossibility theorem" in Social Choice Theory is due to:

    (a) George Ackerloff
    (b) Kenneth Arrow
    (c) Frank Knight
    (d) Gerard Debreu


  7. A probability space is a measure space with a probability measure. The probability measure is a measure with total measure of:

    (a) 1
    (b) 0
    (c) 0.5
    (d) Infinity


  8. Indifference curves in economics was first introduced by:

    (a) Paul Samuelson
    (b) Francis Edgeworth
    (c) Vilfredo Pareto
    (d) Daniel Bernoulli


  9. Which famous economist recently made a radical proposal of "selective default" of the U.S. government debt and for Japan to write off its holdings of the U.S. Treasuries?

    (a) Paul Krugman
    (b) Kazuhide Uekusa
    (c) Akio Mikuni
    (d) Norbert Walter


  10. One of the following economists is not a game theorist.

    (a) John Nash
    (b) Thomas Schelling
    (c) Robert Aumann
    (d) Daniel Kahneman


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