Famous Economists
Instructions: Influential economists and economic theories
- 1.
Who wrote 'The Wealth of Nations' in 1776, often considered the foundation of modern economics?
ADavid RicardoBThomas MalthusCJohn Stuart MillDAdam Smith - 2.
Which British economist advocated for government spending to combat economic downturns during the Great Depression?
AFriedrich HayekBMilton FriedmanCJohn Maynard KeynesDAlfred Marshall - 3.
Which economist is known for his monetarist theory and his influential work 'A Monetary History of the United States'?
AJoseph StiglitzBJohn Kenneth GalbraithCPaul SamuelsonDMilton Friedman - 4.
Who wrote 'Das Kapital' and is considered the father of communist economic theory?
AFriedrich EngelsBKarl MarxCLeon TrotskyDVladimir Lenin - 5.
Which Austrian economist championed free-market economics and won the Nobel Prize in 1974?
ALudwig von MisesBCarl MengerCJoseph SchumpeterDFriedrich Hayek - 6.
Which economist introduced the concept of 'creative destruction' to describe innovation in capitalism?
AJoseph SchumpeterBAlfred MarshallCJohn Kenneth GalbraithDThorstein Veblen - 7.
Adam Smith's concept of an 'invisible hand' describes what economic phenomenon?
ACentral planningBMarket self-regulation through individual self-interestCMonopoly powerDGovernment regulation - 8.
Which economist developed the theory of comparative advantage in international trade?
ADavid RicardoBAdam SmithCThomas MalthusDJean-Baptiste Say - 9.
Who is known for writing 'An Essay on the Principle of Population', warning about the dangers of overpopulation?
AJohn Stuart MillBDavid RicardoCJeremy BenthamDThomas Malthus - 10.
Which American economist won the Nobel Prize in 1970 and wrote the best-selling economics textbook of the 20th century?
ARobert SolowBPaul SamuelsonCKenneth ArrowDMilton Friedman - 11.
Which economist's name is associated with the 'New Deal' advisory role and the concept of 'affluent society'?
AArthur LafferBBen BernankeCPaul SamuelsonDJohn Kenneth Galbraith - 12.
Which Indian economist won the Nobel Prize in 1998 for his work on welfare economics and famine?
AAmartya SenBRaghuram RajanCManmohan SinghDJagdish Bhagwati - 13.
The 'Laffer Curve', illustrating the relationship between tax rates and tax revenue, is named after which economist?
AMilton FriedmanBRobert LucasCArthur LafferDGregory Mankiw - 14.
Which economist served as Chairman of the Federal Reserve from 1987 to 2006?
AJanet YellenBPaul VolckerCBen BernankeDAlan Greenspan - 15.
Which economist coined the term 'conspicuous consumption' in his 1899 book 'The Theory of the Leisure Class'?
AThorstein VeblenBMax WeberCJohn Kenneth GalbraithDVilfredo Pareto