#1
Who is considered the father of modern economics?
John Maynard Keynes
Adam Smith
Karl Marx
Milton Friedman
#2
Which economic theory advocates for minimal government intervention in the economy?
Keynesian economics
Monetarism
Classical economics
Marxian economics
#3
Who proposed the theory of 'invisible hand' in economics?
John Maynard Keynes
Adam Smith
Friedrich Hayek
Joseph Schumpeter
#4
Which economist is known for his theory of 'creative destruction'?
Milton Friedman
Friedrich Hayek
Joseph Schumpeter
John Maynard Keynes
#5
Which economist is known for his theory of 'rational expectations'?
Milton Friedman
Paul Samuelson
Robert Lucas Jr.
John Maynard Keynes
#6
Who introduced the concept of 'liquidity preference'?
Milton Friedman
John Maynard Keynes
Irving Fisher
Friedrich Hayek
#7
Who proposed the concept of 'perfect competition'?
Adam Smith
Alfred Marshall
Paul Samuelson
Joseph Schumpeter
#8
Which economist is known for the theory of 'capital accumulation'?
Thomas Piketty
Karl Marx
John Stuart Mill
David Ricardo
#9
Who developed the concept of 'comparative advantage'?
David Ricardo
Adam Smith
John Stuart Mill
Alfred Marshall
#10
Which economist is known for his work on 'information asymmetry'?
George Akerlof
Paul Krugman
Thomas Piketty
Amartya Sen
#11
Who is associated with the 'Laffer curve'?
Arthur Laffer
Milton Friedman
John Maynard Keynes
Paul Samuelson
#12
Which economist developed the 'theory of the firm'?
Herbert Simon
Ronald Coase
John Hicks
Kenneth Arrow
#13
Who introduced the concept of 'efficiency wages'?
Adam Smith
Joseph Stiglitz
George Akerlof
David Card
#14
Which economist is associated with the 'Phillips curve'?
A.W. Phillips
Paul Krugman
Milton Friedman
John Maynard Keynes