Note: The quiz has five questions. Each has two options one true and other false.
Given below are the major contributions of some well known a economists
Question 1:-
Nobel Prize in Economic Sciences for his contributions to welfare economics and social choice theory and for his interest in the problems of society’s poorest members
A- Amartya sen
B-Muhammad Yunus
Question 2:-
Analysis of consumption, poverty, and welfare. To design an economic policy that promotes welfare and reduces poverty,
A-Daniel Kahneman
B-Sir Angus Deaton
Question 3-
An approach of the randomised controlled trial to test the effectiveness of various policy interventions to alleviate poverty
A-Abhijeet Banerjee
B-Raghuram Rajan
Question 4:-
Decision making in corporate financing and predicting a financial crisis at an annual gathering of economists and bankers in the US in 2005
A-Raghuram Rajan
B-Richard H. Thaler
Question 5:-
Psychologically realistic assumptions into analyses of economic decision-making. By exploring the consequences of limited rationality, social preferences, and lack of self-control
A- Daniel Kahneman
B-Richard H. Thaler
Explanation
Question 1:-A
Explanation:-
Social choice theory is the study of collective decision processes and procedures. It is not a single theory, but a cluster of models and results concerning the aggregation of individual inputs (e.g., votes, preferences, judgments, welfare) into collective outputs (e.g., collective decisions, preferences, judgments, welfare).
Question 2:-B
Explanation:-
Angus Deaton has examined the consumption of individuals how this relates to economic development in society at large.
Question 3:-A
Explanation:-
A study design that randomly assigns participants into an experimental group or a control group. As the study is conducted, the only expected difference between the control and experimental groups in a randomized controlled trial
Question 4:-A
Explanation:-
Raghuram Govinda Rajan is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business
Question 5:-B
Explanation:-
A relatively new field that bridges the gap between economics and psychology. Thaler’s research investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead of entertaining the possibility that some of the agents in the economy are sometimes human. (Nudge theory).