Econ434matching

Econ434matching - more limited one with decentralized...

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Matching & Miscellaneous Practice Questions History of Economic Thought 1. Matching: Neatly draw arrows to identify the school of thought that best specifically encompasses the ideas of these economic thinkers. 60 points David Ricardo Austrian economics John Kenneth Galbraith William Stanley Jevons Socialist theory Thomas More Karl Marx Keynesian macroeconomics Joseph Schumpeter Abba Lerner American Institutionalism Paul Samuelson Leon Walras Classical Economics Thorstein Veblen H.K.E. von Mangoldt Neoclassical economics Adam Smith 2. Neatly draw arrows to identify whether the following goods tend to be rival or nonrival, and whether exclusion or nonexclusion is more characteristic of the good. 60 points
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3. Neatly draw arrows to indicate whether these thinkers favored a relatively larger role for centralized decisionmaking (government) in economic decisionmaking or a relatively
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Unformatted text preview: more limited one, with decentralized decisionmaking. 30 points 4. Use capital letters to match these economists with the schools of thought with whom they would be closest and most uniquely associated. John Baptiste Say A. utilitarianism St. Thomas Aquinas B. “high” theory Milton Friedman C. general equilibrium analysis Veblen, Ayres, Commons, and Galbraith D. public choice theory Akerlof, Spence, and Stiglitz E. medieval scholasticism Leon Walras and Vilfredo Pareto F. Austrian economics Paul Samuelson and Kenneth Arrow G. classical macroeconomics James Mill and John Stuart Mill H. Quantity Theory of Money Eugen Böhm-Bawerk and Carl Menger I. American Institutionalism James Buchanan and Gordon Tullock J. economics of information...
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