Economic Theories Explained

Q8 Advanced 3 pts

What is the key insight of Marxian economics regarding the nature of capitalism? Video Reference:
"Marx saw this as an inherent feature of capitalism not a bug like a pressure cooker building steam h..."

Timestamp: 1:20

Capitalism is a harmonious system that benefits all participants Capitalism is a natural evolution from previous economic systems Capitalism is an inherently exploitative system that will inevitably collapse Capitalism is a game where individuals make rational choices to maximize their payoff

Economic Theories Explained

According to classical economics, what is the role of government in the economy? Video Reference:
"classical economics picture an economy as a massive machine that runs best when left alone..."

Timestamp: 0:10

What is the core idea behind Marxian economics? Video Reference:
"at the heart of marxian Economics is the labor theory of value the idea that a product's True Value ..."

Timestamp: 1:00

What is the key insight of Keynesian economics during a recession? Video Reference:
"his key Insight during a recession people and businesses get scared people save more businesses inve..."

Timestamp: 2:30

True or false: Neoclassical economics introduced the idea that value comes from the human labor put into a product. Video Reference:
"unlike classical or marxian economists who thought value came from labor neoclassicals introduced ma..."

Timestamp: 1:40

Which of the following are key ideas in game theory? (Select all that apply) Video Reference:
"Game Theory asks a different question how do people behave when their success depends on others choi..."

Timestamp: 2:00

True or false: Supply-side economics argues that tax cuts will pay for themselves by boosting economic growth. Video Reference:
"remember the 1980s when Reagan promised that tax cuts would pay for themselves that's supply side ec..."

Timestamp: 3:00

Which of the following are key principles of classical economics? (Select all that apply) Video Reference:
"classical economics picture an economy as a massive machine that runs best when left alone this is t..."

Timestamp: 0:10

What is the key insight of Marxian economics regarding the nature of capitalism? Video Reference:
"Marx saw this as an inherent feature of capitalism not a bug like a pressure cooker building steam h..."

Timestamp: 1:20

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Economic Theories Explained

According to classical economics, what is the role of government in the economy? Video Reference: "classical economics picture an economy as a massive machine that runs best when left alone..." Timestamp: 0:10

What is the core idea behind Marxian economics? Video Reference: "at the heart of marxian Economics is the labor theory of value the idea that a product's True Value ..." Timestamp: 1:00

What is the key insight of Keynesian economics during a recession? Video Reference: "his key Insight during a recession people and businesses get scared people save more businesses inve..." Timestamp: 2:30

True or false: Neoclassical economics introduced the idea that value comes from the human labor put into a product. Video Reference: "unlike classical or marxian economists who thought value came from labor neoclassicals introduced ma..." Timestamp: 1:40

Which of the following are key ideas in game theory? (Select all that apply) Video Reference: "Game Theory asks a different question how do people behave when their success depends on others choi..." Timestamp: 2:00

True or false: Supply-side economics argues that tax cuts will pay for themselves by boosting economic growth. Video Reference: "remember the 1980s when Reagan promised that tax cuts would pay for themselves that's supply side ec..." Timestamp: 3:00

Which of the following are key principles of classical economics? (Select all that apply) Video Reference: "classical economics picture an economy as a massive machine that runs best when left alone this is t..." Timestamp: 0:10

What is the key insight of Marxian economics regarding the nature of capitalism? Video Reference: "Marx saw this as an inherent feature of capitalism not a bug like a pressure cooker building steam h..." Timestamp: 1:20

Share This Quiz

Calculating Your Results...

Source Video

According to classical economics, what is the role of government in the economy? Video Reference:
"classical economics picture an economy as a massive machine that runs best when left alone..."

Timestamp: 0:10

What is the core idea behind Marxian economics? Video Reference:
"at the heart of marxian Economics is the labor theory of value the idea that a product's True Value ..."

Timestamp: 1:00

What is the key insight of Keynesian economics during a recession? Video Reference:
"his key Insight during a recession people and businesses get scared people save more businesses inve..."

Timestamp: 2:30

True or false: Neoclassical economics introduced the idea that value comes from the human labor put into a product. Video Reference:
"unlike classical or marxian economists who thought value came from labor neoclassicals introduced ma..."

Timestamp: 1:40

Which of the following are key ideas in game theory? (Select all that apply) Video Reference:
"Game Theory asks a different question how do people behave when their success depends on others choi..."

Timestamp: 2:00

True or false: Supply-side economics argues that tax cuts will pay for themselves by boosting economic growth. Video Reference:
"remember the 1980s when Reagan promised that tax cuts would pay for themselves that's supply side ec..."

Timestamp: 3:00

Which of the following are key principles of classical economics? (Select all that apply) Video Reference:
"classical economics picture an economy as a massive machine that runs best when left alone this is t..."

Timestamp: 0:10

What is the key insight of Marxian economics regarding the nature of capitalism? Video Reference:
"Marx saw this as an inherent feature of capitalism not a bug like a pressure cooker building steam h..."

Timestamp: 1:20