What economic school advocates for minimal government intervention in markets?
Answer
Classical economics
What economic school advocates for minimal government intervention in markets?
Keep drawing
Related trivia
- Intermediate Intermediate difficulty.
- Economic Theories
What economic theory, proposed by Kahneman and Tversky, explains how people make decisions under risk by evaluating gains and losses relative to a reference point?
Answer
Prospect theory
- Easy Easy difficulty.
- Economic Theories
What curve suggests that tax revenue initially increases with tax rates but eventually falls as rates become too high?
Answer
Laffer curve
- Intermediate Intermediate difficulty.
- Economic Theories
Which economic model explains cyclical price fluctuations when producers base current output on last period's price?
Answer
Cobweb model
- Intermediate Intermediate difficulty.
- Economic Theories
Which hypothesis in financial economics asserts that asset prices fully incorporate all available information?
Answer
Efficient-market hypothesis
- Hard Hard difficulty.
- Economic Theories
Which model of bank runs was published by Douglas Diamond and Philip Dybvig in 1983?
Answer
Diamond-Dybvig model
- Hard Hard difficulty.
- Economic Theories
Which theorem says free trade equalizes factor prices under specific assumptions?
Answer
Factor price equalization