Pulp Economics: Econ Quiz 1

For the entertainment and perhaps the enlightenment of readers here at The Dark Wraith Forums, an economics quiz is herewith offered.

Enjoy and discuss.

1. Which of the following could cause inflation?

• An increase in the minimum wage


• Growth rate of the money supply exceeding real growth rate of the economy


• A collusive agreement among companies to raise prices


• All of the above could cause inflation

2. Which economist wrote the following? It must be emphasized that the destiny of modern civilization as developed by the white peoples in the last two hundred years is inseparably linked with the fate of economic science.

• Adam Smith


• Karl Marx


• John Maynard Keynes


• Ludwig von Mises

3. Which of the following would not be a result of rising interest rates?

• Decreasing consumer and business (private) borrowing


• Decreasing federal government (public) borrowing


• Decreasing net exports (exports — imports)


• All of the above would be results of rising interest rates

4. "All unemployment is voluntary," would most likely be said by...

• a Classical economist.


• a Marxist economist.


• a Keynesian economist.


• a neo-Keynesian economist.

5. If, over a period of many months, the Federal Reserve has been aggressively purchasing Treasury bills from banks, which of the following is the most likely explanation in terms of Federal Reserve monetary policy?

• The Fed is pursuing a contractionary monetary policy.


• The Fed is pursuing a neutral monetary policy.


• The Fed is pursuing an expansionary monetary policy.


• This activity would have nothing to do with the monetary policy being pursued by the Fed.

 
Score =
Correct answers:
<br />