Principles of Economics Winterterm 2023/2024 Quiz

Mankiw, N.G.: Economics, Fourth Edition, Cengage Learning EMEA, 2017

We expect our dinner from the regard to their own interest of the butcher, the brewer, or the baker.

1. Market and State
2. National Accounts and Balance of Payments
3. Single Currency Areas and the European Monetary Union

<ol> <li>Economists are armed and dangerous: Watch out for our invisible hands.</li> <li>Economists can offer IT on demand.</li> <li>Economists can talk about money without earning a cent.</li> <li>Mick Jagger and Arnold Schwarzenegger have studied Economics.</li> <li>If you are unemployed, at least you know why.</li> <li>Although ethics teaches you that virtue is your own reward, in economics you learn that reward is your own virtue.</li> <li>If you are drunk, you can tell everyone that you are exploring the diminishing marginal utility.</li> </ol> Signup and view all the answers

<p>Book I Chapter 2: Of the Principle which gives Occasion to the Division of Labour</p> Signup and view all the answers

<ol> <li>How do consumers make decisions about purchasing goods and services? 2. What factors influence the pricing and production decisions of firms? 3. How does the market determine the allocation of resources?</li> </ol> Signup and view all the answers

<ol> <li>How does the overall level of prices and output in an economy (inflation and GDP) affect economic growth and stability? 2. What are the causes of unemployment and how can it be reduced? 3. What policies can be implemented to stabilize the economy during economic downturns?</li> </ol> Signup and view all the answers

<p>Economics helps a Manager/Politician understand the laws behind market phenomena such as inflation, price fluctuations, and unemployment. It provides insights into decision-making regarding the use of scarce resources with alternative usability.</p> Signup and view all the answers

<ol> <li>International Monetary Fund, Washington - semi-annual World Economic Outlook 2. World Bank, Washington - deals with structural development 3. OECD (Organisation for Economic Co-Operation and Development), Paris - Analyses of a wide range of economic topics</li> </ol> Signup and view all the answers

<ol> <li>Council of Economic Experts on the Assessment of Macroeconomic Developments (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung), Wiesbaden 2. Deutsches Institut für Wirtschaftsforschung DIW, Berlin (German Institute for Economic Research) 3. ifo-Institut für Wirtschaftsforschung, München (ifo Institute for Economic Research) 4. Institut für Weltwirtschaft, Universität Kiel (Institute for the World Economy) 5. Institut für Wirtschaftsforschung, Halle (Institute for Economic Research)</li> </ol> Signup and view all the answers