#1
Which event marked the beginning of the Great Depression?
The stock market crash of 1929
The signing of the Treaty of Versailles
The outbreak of World War I
The invention of the automobile
#2
Who is considered the father of modern economics?
John Maynard Keynes
Adam Smith
Karl Marx
Milton Friedman
#3
Which agreement created the European Economic Community (EEC) in 1957?
Treaty of Lisbon
Treaty of Rome
Treaty of Maastricht
Treaty of Versailles
#4
Who is known for developing the theory of 'Creative Destruction'?
Joseph Schumpeter
John Kenneth Galbraith
Friedrich Hayek
Thorstein Veblen
#5
Who is considered the founder of the World Bank?
John Maynard Keynes
Harry Dexter White
Bretton Woods
David Rockefeller
#6
Which country experienced the 'Asian Financial Crisis' in 1997?
South Korea
China
Japan
Thailand
#7
Which economic concept is defined as the total value of goods and services produced within a country in a specific time period?
Gross National Product (GNP)
Net Domestic Product (NDP)
Gross Domestic Product (GDP)
Net National Product (NNP)
#8
Who introduced the concept of 'Comparative Advantage'?
Adam Smith
David Ricardo
John Maynard Keynes
Karl Marx
#9
Which country is known for implementing the 'New Economic Policy' (NEP) in the 1920s?
United States
United Kingdom
Russia (Soviet Union)
Germany
#10
Who is credited with developing the concept of 'invisible hand' in economics?
John Maynard Keynes
Adam Smith
Karl Marx
Milton Friedman
#11
Which country experienced the 'Miracle on the Han River'?
China
Japan
South Korea
Singapore
#12
Who proposed the 'Theory of Comparative Advantage'?
John Maynard Keynes
David Ricardo
Adam Smith
Karl Marx
#13
Which country experienced 'stagflation' in the 1970s?
United States
Germany
Japan
United Kingdom
#14
Who introduced the concept of 'Gross Domestic Product (GDP)'?
John Maynard Keynes
Simon Kuznets
Adam Smith
Karl Marx
#15
Who authored the book 'The Wealth of Nations'?
Karl Marx
Adam Smith
John Maynard Keynes
Milton Friedman
#16
Which economic theory emphasizes the importance of aggregate demand in driving economic growth?
Monetarism
Supply-side economics
Keynesian economics
Austrian economics
#17
Which organization provides financial assistance to countries facing balance-of-payments problems?
World Bank
International Monetary Fund (IMF)
Asian Development Bank (ADB)
Organization for Economic Co-operation and Development (OECD)
#18
What does the 'Kuznets Curve' describe?
The relationship between income inequality and economic growth
The impact of technological progress on unemployment
The effect of education on labor productivity
The relationship between inflation and unemployment
#19
Which country experienced 'hyperinflation' in the early 1920s, leading to economic instability?
France
United States
Germany
United Kingdom
#20
Who coined the term 'creative economy'?
Joseph Stiglitz
John Kenneth Galbraith
Richard Florida
Amartya Sen
#21
Which economic concept is associated with the phrase 'There's no such thing as a free lunch'?
Opportunity cost
Inflation
Monopoly
Supply and demand
#22
What does the 'Washington Consensus' refer to?
A set of economic policy prescriptions
A treaty to end World War II
An agreement on international trade regulations
A diplomatic agreement on nuclear disarmament
#23
What is the 'Triffin Dilemma' related to?
Monetary policy
Fiscal policy
Trade policy
International development
#24
Which economic theory argues for minimal government intervention in the economy and emphasizes individual freedom and free markets?
Monetarism
Austrian economics
Keynesian economics
Marxian economics
#25
Which economic concept refers to the situation where the production of one good requires the sacrifice of another?
Marginal utility
Diminishing returns
Opportunity cost
Perfect competition