Ünite Sınavı Soruları

Keynes (1921) and Knight (1936) drew a distinction between uncertainty and risk. _____ can be defined, but _______ cannot.

Choose the option that completes the following sentence correctly.

"At every level of the decision-making process, agents in the actual world have .......... brought on by both external and internal causes such as issue detection, information search, options appraisal, decision, and post-decision behavior."

Which of the following CANNOT be considered as one of the effects of expectations on economy?

Choose the option that completes the following sentence correctly.

"According to the .......... expectations theory, a variable’s future expected value is equal to the best estimation made about it using all of the information that is currently available."

The idea of restoring expectations which deals with the expectations of employers and employees against inflation is based on whose study?

Choose the option that completes the following sentence correctly.

"The price of acquiring information, lack of data access, and asymmetric information are the main causes of .......... information."

I. According to the rational expectations theory, a variable’s future expected value is equal to the best estimation made about it using all of the information that is currently available.

II. According to the economic theory of rational expectations, people make judgments based on any information available in the market and leave out historical trends.

III. In accordance with rational expectations, people will occasionally make mistakes but generally make the right decisions.

What can said to be true about rational expectations?

What is the attitudes, tendencies, or psychological moods towards events of unknown outcome?

I. According to the static expectations hypothesis, people anticipate that an economic variable’s value will remain constant during the course of the next time.

II. The idea of static expectations is generally criticized because it makes the assumption that people will ignore information regarding potential changes in policy variables. 

III. The static expectations hypothesis presupposes that people base their decisions on previous evidence, which leads to the criticism of the model being oversimplified. 

What can said to be true about static expectations?

Who put forth the first expectations-based economic theory by asserting the cyclical character of price and revenue behavior could be seen?