You Have The Characteristics Of Nobel Winning Economists If You Pass This Brain-Twister

Think you can win the Nobel Prize in Economics...

Andrew Campbell
Created by Andrew Campbell
On Jul 23, 2022

Economists are investigative and imaginative. They also tend to be assiduous, meaning that they are usually detail-oriented and organized, and like working in a structured environment. If you are one or both of these archetypes, you may be well suited to be a world-class economist.

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What is the inflation rate?

2 / 17

When supply and demand are EQUAL, the economy is said to be at equilibrium.

3 / 17

Given a production possibilities curve for defense goods and non-defense goods, if a nation is producing at a point inside the production possibilities curve, then...

4 / 17

The law of demand states that, if all other factors remain equal...

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The law of supply states that, if all other factors remain equal...

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The degree to which a demand or supply curve reacts to a change in price is the curve's elasticity. If elasticity is greater than or equal to one, the curve is considered to be...

7 / 17

The real interest rate is the rate of interest an investor expects to receive after ALLOWING for inflation.

8 / 17

In an oligopoly, there are only a few firms that make up an industry.

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Marginal cost...

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Although total utility usually decreases as more of a good is consumed, marginal utility usually increases with each additional decrease in the consumption of a good.

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An interest rate is called nominal if the frequency of compounding is identical to the basic time unit.

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U.S. Treasury bonds include SAVINGS bonds.

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Most tax credits are NOT non-refundable.

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Bondholders don’t have ownership or voting rights.

15 / 17

New cars for sale are offered with no down payment and an interest of 0%. Which of the following is most likely to occur?

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Other than wages, what are two issues commonly addressed by collective bargaining between labor unions and employers?

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In order to maximize profits, a firm will...

Questions left
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