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Which theorem says no ranked voting system can meet several fairness criteria with three or more options?
Answer
Arrow's theorem
Which paradox says efficiency gains can increase total resource consumption?
Answer
Jevons paradox
Which theory explains rising relative costs in labor-intensive services with slow productivity growth?
Answer
Baumol's cost disease
Which hypothesis says tax cuts may not raise demand if people expect future taxes?
Answer
Ricardian equivalence
Which model extends IS-LM analysis to an open economy?
Answer
Mundell-Fleming model
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Latest trivia questions
Which paradox says efficiency gains can increase total resource consumption?
Answer
Jevons paradox
Which theory explains rising relative costs in labor-intensive services with slow productivity growth?
Answer
Baumol's cost disease
Which hypothesis says tax cuts may not raise demand if people expect future taxes?
Answer
Ricardian equivalence
Which model extends IS-LM analysis to an open economy?
Answer
Mundell-Fleming model
Which curve shows an inverse relationship between unemployment and wage inflation?
Answer
Phillips curve
Which curve proposes that inequality first rises and then falls as income grows?
Answer
Kuznets curve
Which economist is associated with the theory of creative destruction?
Answer
Joseph Schumpeter
Which 1899 book introduced the term conspicuous consumption?
Answer
The Theory of the Leisure Class
Which economist introduced the idea of comparative advantage in an 1817 book?
Answer
David Ricardo
Which theory argues that economic crises arise from class conflict and capital accumulation?
Answer
Marxian economics