Mutiny & Morality
An ethical theory which posits that the best action is the one that maximizes overall happiness and well-being for the greatest number of people
Singapore's second prime minister.
Who is Goh Chok Tong?
This is an economic problem: Two students split the cost of a pizza. One student eats most of it.
What is the Free-Rider Problem?
A famous game theory dilemma in which two suspects must choose whether to cooperate or betray each other.
What is The Prisoner's Dilemma?
P(A) = 0.3
P(B) = 0.5
P(A or B) if A and B are independent events
What is 0.65?
An Ancient Greek philosopher who taught Alexander the Great.
Who is Aristotle?
Executive, Legislative, Judicial.
What are the 3 branches of the Singaporean government?
He wrote The Wealth of Nations and coined the term “invisible hand”.
Who is Adam Smith?
The answer to this question: Which statement is best classified as a normative claim?
A. A rise in inequality is associated with lower social mobility.
B. Countries with progressive tax systems often have lower income inequality.
C. Governments ought to reduce inequality, even if doing so slows economic growth.
D. Income inequality has increased in many developed economies over the last thirty years.
What is C?
The x-coordinates of the stationary points on the graph with equation
y = x3 - 6x2 + 9x - 1
What are 3 and 1?
The philosopher who famously said "I think, therefore I am".
Who is René Descartes?
A form of government or power structure in which nearly all political and societal control is held by a very small, elite group of individuals.
What is an oligarchy?
This economic principle states that as more units of a good are consumed, the additional satisfaction tends to decrease.
What is the Law of Diminishing Marginal Utility?
A social theory that believes history to be driven by class struggle.
What is Marxism?
The size of the Keynesian Multiplier when.... The Philippine government has announced a 50 billion peso stimulus package targeting rural infrastructure development. Economic data shows that for every additional peso earned, households save 0.15 pesos, spend 0.2 pesos on imports, and pay 0.15 pesos in tax.
What is 2?
People should not be treated as means to an end.
What is Kant's Categorical Imperative?
When opposing political parties in a two-party system find common ground through cooperation and compromise.
What is bipartisanship?
The effect of increased European tourism to the USA on the value of the Euro.
What is depreciation?
A small prompt that influences individuals' decisions, preserving their freedom of choice by guiding them towards better outcomes without force
What is a nudge?
The opportunity cost in $ of getting to San Fransisco by driving (as compared to not going) when: The distance is 75 miles. You can drive or take the train. The train ticket is $25, and the journey takes 2 hours. Your wage is $20 per hour. The cost of the car journey is $10 for gasoline, $4 for tolls, plus a depreciation cost of $0.20 per mile for your vehicle. The car journey takes 1.5 hours.
What is $59?
The thinker famous for the idea that humans in a “state of nature” would experience life as “solitary, poor, nasty, brutish, and short”.
Who is Thomas Hobbes?
Canada, France, Germany, Italy, Japan, UK, USA
Which countries are members of the G7?
Open Market Operations, Required Reserve Ratio, Quantitative Easing, changes to the base rate
What is monetary policy?
A 2024 Nobel-Prize winning book about how the politics of a country affect its economic success, bringing about either prosperity or poverty.
What is Why Nations Fail?
A disease affects 1% of people. A test correctly identifies infected people 99% of the time and incorrectly flags healthy people 1% of the time. Someone tests positive. Is their probability of actually having the disease approximately 1%, 50%, or 99%?
What is 50%? (Bayes' theorem)