Ünite Sınavı Soruları

I. One of Mill's most important contributions is the notion of “the invisible hand” which is still important in economics.

II. Mill’s most important methodological principle is the distinction he draws between production and distribution.

III. Mill’s Utilitarianism is a qualified one in that he accepts that some choices of individuals are better in quality than others.

Which of the statements can be said to be true about John Stuart Mill?

I. Jeremy Bentham is an important philosopher who wrote extensively on the philosophy of law and morality. 

II.  His lasting contribution to the history of economic thought is the philosophy of Liberalism.

III. The “hedonistic calculus” of Bentham, adopts its motto of “greatest happiness of the greatest number”.

Which of the statements can be said to be true about Jeremy Bentham?

I. Adam Smith can be seen as the founder of an independent economic science that has its own subject matter and an exclusive analytical structure, developed in his book The Wealth of Nations in 1776.

II.  One of his most important contributions is, of course, the notion of “General Glut” which is still important for both economics and other social sciences.

III. In the Wealth of Nations, on the other hand, Smith laid down the analytical foundations of political economy, some of which are still important for economics as well.

What can be said to be true about Adam Smith?

I. The basic analytical units of the Classical Political Economy are not individuals but the social classes and their relations or conflicts.

II. The Classical school takes production and capital accumulation as the main analytical focus.

III. Classical school is concerned with short-run behavior of the economic system and its equilibrium conditions.

What can be said to be true about the general analytical framework of the Classical School?

I. Population is necessarily limited by the means of subsistence.
II. Population invariably decreases where the means of subsistence increase, unless prevented by some very powerful and obvious checks.
III. These checks, and the checks which repress the superior power of the population, and keep its effects on a level with the means of subsistence, are all resolvable into moral restraints, vice, and misery

Which of the given can be said to be true about Malthus’s basic theses regarding population?

I. Classical school in many ways was the forerunner of the Neoclassical school, differences notwithstanding. First of all, the “scientific” stature of political economy was established by the Classical School.

II. Second, the idea of the invisible hand still occupies the most significant place in our understanding of the functioning of a market economy and individual behavior. 

III. Third, the questions they raise, such as the nature and working of a capitalist economy, mechanics of production, and capital accumulation processes have since become irrelevant in economics.

What can be said to be true about the relationship between the Classical school and the Neoclassical school?

Choose the option that completes the following sentence correctly.

"The Classical school of thought usually starts with .......... in the late 18th century and ends with John Stuart Mill, in the middle of the 19th. "

Choose the option that completes the following sentence correctly.

"The birth of the Classical political economy coincides with one of the most important economic and technological transformations experienced in human history, namely the .........."

Which of the following signifies a transition from mercantile capitalism to industrial capitalism?

I. Say is one of the important figures of classical political economy who has been influential in laying the foundations of laissez-faire and utilitarian approaches.

II. Say is known best for his “law” stating that equality between total output produced and total spending will always be maintained within a market economy. 

III. Say's most important book "The Principles of Political Economy and Taxation" was an inquiry to understand the scope and the method of political economy. 

Which of the statements can be said to be true about Jean-Baptiste Say?

Choose the option that completes the following sentence correctly.

"Adam Smith can be seen as the founder of an independent economic science that has its own subject matter and an exclusive analytical structure, developed in his book .......... in 1776."

What is the “General Glut”?

Choose the option that completes the following sentence correctly.

"In macroeconomics, the term .......... is usually understood as denoting the 'Neoclassical School' with particular emphasis on the neutrality of money."

Choose the option that completes the following sentence correctly.

"The .......... metaphor, which was first devised by Adam Smith, offers an analytical framework for an individual choice-driven market system, capable of bringing solutions to economic problems."

The book 'The Principles of Political Economy and Taxation' (1821) was written by which of the following authors?

What is "rent" according to Ricardo?

I.Ricardo’s value theory was intended as a correction of Smith’s “labor command theory”, for it cannot explain the determination of natural prices.

II.Ricardo's labor theory of value aims at evaluating the effects of changes in distributive shares, especially wages.

III.For Ricardo, political economy is concerned mainly with the income of individuals.

What can be said to be true about Ricardo's economic theories?

Which of the following is one of Adam Smith's famous works that was published in 1759?

Choose the option that completes the following sentence correctly.

".......... is famous mostly for his population theory arguing that population grows faster than the production of foods necessary to feed people, and it constitutes a major important peril with regard to production and accumulation."

According to Keynes, the name Malthus is a derivative of which of the following?