Classical
The first person to write about the labor theory of value.
Who is Ibn Khaldoun?
Marx's theory of surplus labor value was based on
What is, surplus labor time?
Jevons found that gains in efficiency lead to
What is, gains in consumption?
Radar, Synthetic rubbers, jet airplanes, and later the internet were
A carbon tax involves
What is, placing a price on a quantity of carbon dioxide emissions?
One person making pins on their own could make 10 pins in a day. Ten people dividing tasks to make the pins could make, according to the calculations of Adam Smith, as many as ___________ pins a day.
What is 10,000?
Marx's theory of sectoral imbalances predicts
What is instability?
What is the business cycle?
Walras called envisioned tatonment as
What is, an auction where prices find equilibrium?
THe Bretton Woods System was founded in this year
What is, 1944?
A prescriptive regulation involves
What is, specifying the new technology businesses and individuals use?
This was one of four principles of taxation, according to Smith.
What is consistency?
What is predictability?
What is proportionality/fairness?
What is efficiency of tax collection?
There are four countervailing tendencies, according to Marx, that counter the diminishing rate of profit. They are
What is paying wages that are less than those required by labor power?
What is foreign trade/investment overseas?
What is more intense exploitation of labor?
What is growth of a surplus population -- "reserve army of the unemployed"?
While Jevons and Walras founded the neoclassical school of economic thought, Carl Menger founded
What is, the Austrian school of economic thought?
The IMF Is the lender of
What is, last resort?
A flexible regulation, like a renewable or clean energy standard, involves
What is, allowing businesses and individuals to adopt a range of different clean energy technologies?
Bentham believed that humans can calculate
What is, the best way to maximize pleasure and minimize pain?
Marx's stages of history are
What is primitive communism, feudalism, capitalism, socialism, communism
Menger, Jevons and Walras were all part of something called the
What is the Marginal Revolution?
The WTO (World Trade Organization) is in charge of
What is trade?
Geo-engineering involves
WHat is, a range of measures from artificial trees to changing the atmosphere?
Malthus believed population would
What is, outstrip food production?
What is, market socialism? What is, worker ownership of workplaces competing on the market?
While many classical political-economists believed value was based in labor, neoclassical economists advanced the idea that value is
What is, subjective?
The World Bank is in charge of
What is, loans for development projects?
Mitigation means preventing climate impacts. Adjusting to climate impacts that cannot be prevented is
What is adaptation?