Which of the following is NOT the major tenets of Marginalist School?
Rational economic behavior
Macroeconomics emphasis
Focus on the margin
The use of abstract deductive method
The marginalist developed powerful tools of analysis, which are
geometric diagrams and mathematical techniques
IS-LM curve and demand-supply
regression analysis
Who developed the derived demand for resources?
Alfred Marshall
Gary Becker
Antoine Cournot
William Jevons
The curve illustrates that marginal utility falls as consumption increases and an inverse relationship exists between product price and quantity demanded. The curve is known as
Dupuit's Curve of Consumption
Cournot's Theory of Monopoly
Cournot's Curve of Consumption
Dupuit's Monopoly Price Discrimination
"Pearls have value because get utility from them and that people dive for pearls because pearls have such value."
Who stated the above?
David Ricardo
Adam Smith
Carl Menger
Which British economist, considered by many as the most important economist of the 20th century, wrote "The General Theory of Employment, Interest and Money"?
John Hicks
John Maynard Keynes
Alvin Hansen
This economist, known as the founder of the "neoclassical" school of economics, wrote the "Principles of Economics" (1890), which became the standard text in universities in the UK.
William Stanley Jevons
Milton Friedman
Which school of thought rejects Keynesian ?
Neoclassical
Chicago
Marginalist
According to Milton Friedman, which of these are the major determinants of the demand for money?
Economic liberalization
Preferences
Total Cash
Price Level
Gary Becker believes that neoclassical theory can be used to explain all human behavior. His approach to human behavior is based on market equilibrium, stable preferences and
rational choice
consumer behavior
general training
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