Quiz # 3

Which famous economist is credited with the following statement "business of business is business"?


(a) Robert Mundell
(b) Arthur Laffer
(c) Robert Solow
(d) Paul Samuelson




Who amongst the following is supposed to be a great scholar of the Great Depression of the 1930s?


(a) Paul Volcker
(b) Alan Greenspan
(c) Ben Bernanke
(d) Henry Paulson




Which American President is credited with the term "Ownership Society"?


(a) Theodore Roosevelt
(b) Jimmy Carter
(c) George W Bush
(d) Bill Clinton




The notion of "Ownership Society" draws its intellectual inspiration from:


(a) the reactionary era of Ronald Regan and Margaret Thatcher in the 1980s;
(b) John Kenneth Galbraith's ideas as espoused in the "The Affluent Society";
(c) the progressive era of Roosevelt and Wilson in the early 1900s;
(d) None of the above;




Which contemporary American economist, writing in popular press, has been the fiercest critic of the policies of President George W Bush?


(a) Paul Romer
(b) Paul Krugman
(c) Avinash Dixit
(d) Jeffery Sachs




Which American economist in the mid 1970s developed a model of asset bubbles fuelled by credit growth that has recently been much talked about in the financial press?

(a) Merton Miller
(b) Franco Modigiliani
(c) Hyman Minsky
(d) Paul Samuelson




Which American economist has combined an intuitive, historical approach, "backed up by an understanding of theoretical models" to study collapsing economies of the third world in the 1990s and has famously argued, starting in 2004, that the United States might soon suffer similar fate?


(a) William Baumol
(b) Nouriel Roubini
(c) Lawrence Summers
(d) Stephen Ross




The Columbia University economist who has written extensively on the phenomenon of Globalization and theorized about it is:


(a) Jagdish Bhagwati
(b) Avinash Dixit
(c) Paul Krugman
(d) Jeffrey Sachs




Another prominent Columbia University economist who has done pioneering work in the 1960s and 1970s in the area of money-wage dynamics and labour market equilibrium and has sharpened the modern day understanding of the short run and long run effects of economic policy is:

(a) Edmund Phelps
(b) Leonid Hurwicz
(c) Eric Maskin
(d) George Ackerloff




Paul Krugman's work on economic geography, which won him the 2008 Nobel prize in economics is largely based on the models of monopolistic competition and product diversity developed by:


(a) Avinash Dixit
(b) Jagdish Bhagwati
(c) Alan Blinder
(d) Gene Grossman

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