Econ434MC10

Econ434MC10 - Topic 9 Institutionalism German Historicism 1 Alexander Hamiltons advocacy of tariffs to protect infant industries was later echoed

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Institutionalism German Historicism 1. Alexander Hamilton’s advocacy of tariffs to protect “infant industries” was later echoed in the works of: (a) German historicists. (b) mercantilists. (c) American institutionalists. (d) David Hume. (e) French physiocrats. 2. The implicit assumptions of classical and neoclassical economic theorists that culture and historical time are irrelevant for useful economic analysis was emphatically rejected by: (a) utilitarianianism. (b) German historicism. (c) mercantilism. (d) physiocracy. (a) logical positivism. 3. The German historical school had the most in common methodologically with: (a) American Institutionalism. (b) Austrian economics. (c) classical economics. (d) orthodox Marxism. 4. A school of thought that emphatically rejected the claim of neoclassical theorists that culture and historical time are irrelevant for useful economic analysis is: (a) utilitarianianism. (b) German historicism. (c) mercantilism. (d) physiocracy. (a) logical positivism. 5. Early developers of a theoretical rationale for American protectionism would include: (a) Thorstein Veblen and John R. Commons. (b) Richard Nixon and Spiro Agnew. (c) John Bates Clark and Irving Fisher. (d) Alexander Hamilton and Friedrich List. (e) John Philip Sousa and John Kenneth Galbraith. 6. At the end of the 19 th century American graduate students pursuing PhDs in economics abroad would have been most densely clustered in: (a) Austria. (b) Paris. (c) Germany. (d) Cambridge, England. (e) Sweden. American Institutionalism 7. Thomas Malthus’ population theory influenced pre-marginalist classical macrotheory in a manner paralleling the way: (a) Charles Darwin’s theory of evolution influenced the institutionalist interpretation of change. (b) Sigmund Freud’s Interpretation of Dreams shaped core concepts in modern public choice theory. (c) Zeno’s theory of a stable universe influenced German historicists’ views of free trade. (d) Thorstein Veblen’s theory of conspicuous consumption influenced Microsoft marketing strategies developed by Bill Gates. (e) Albert Einstein’s theory of relativity influenced the mathematical economics of Francis Ysidro Edgeworth. 8. The institutions in “institutionalism” refer to: (a) public and private institutions. (b) technical and ceremonial institutions. (c) market and non-market institutions. (d) for- profit and non-profit institutions. (e) educational and business institutions. 9. In assessing the debate between Zeno and Heraclites about whether stability of the universe permits reasonably accurate forecasts of the future, the group most likely to side with Heraclites would have been: (a) the Veblen wing of institutionalism. (b) neoclassical economists. (c) public choice theorists. (d) Keynesians. (e) Austrian marginalists. 1
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This note was uploaded on 01/12/2010 for the course ECON 434 taught by Professor Byrns during the Spring '09 term at UNC.

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Econ434MC10 - Topic 9 Institutionalism German Historicism 1 Alexander Hamiltons advocacy of tariffs to protect infant industries was later echoed

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