What monetary law states that bad money drives out good money?
Answer
Gresham's law
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What monetary law states that bad money drives out good money?
Answer
Gresham's law
What theorem in international trade predicts that protectionism benefits the scarce factor of production?
Answer
Stolper-Samuelson theorem
What economic law states that a 1% increase in unemployment corresponds to a roughly 2% decrease in GDP?
Answer
Okun's law
What monetary policy rule recommends adjusting interest rates based on inflation and output gap?
Answer
Taylor rule
What curve illustrates the relationship between tax rates and government revenue?
Answer
Laffer curve
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Latest trivia questions
What theorem in international trade predicts that protectionism benefits the scarce factor of production?
Answer
Stolper-Samuelson theorem
Which British economist developed the concept of the multiplier effect?
Answer
Richard Kahn
What does the Gini coefficient measure?
Answer
Income inequality
What consumption theory suggests that people plan their spending based on their lifetime income?
Answer
Life-cycle hypothesis
Which French economist is known for the 'broken window fallacy'?
Answer
Frédéric Bastiat