Institutional economics test with answers 27 questions

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Institutional economics test with 27 questions answered
Question 1. Which economist is considered the founder of traditional institutionalism?
1.R. Coase;
2. T. Veblen;
3. D. North;
4. O. Ulyamson;
5. D. Kommans.
Question 2. Is there a definition of the subject of institutional economics in the options?
1. about the system of objective economic relations between classes of people, formed in the process of production, distribution, exchange and consumption of goods;
2. on the search for an effective form of organizing the social economy, the science of wealth;
3. studying economic behavior through the prism of stereotypes of social agents;
4. about the rational behavior of economic agents in the process of production, distribution and consumption of goods in the world of limited resources;
5. there is no definition.
Question 3. What is the main reason for the evolution of public institutions?
1.development of production;
2. social progress;
3. evolution of democracy;
4. positive transaction costs;
5. negative transaction costs.
Question 4. What are the main categories of the "old" institutionalism?
1. institutions;
2. transaction costs;
3. marginal utility;
4. production factors;
5. ultimate performance.
Question 5. What are the main differences between modern "old" and "new" institutionalism?
1. the use of the category "transaction costs" on a par with the category "institution" for economic analysis;
2. consideration of society as a whole;
3. the determining role of institutions and their influence on the development of society;
4. the main provisions formed in the works of American institutionalists;
5. the dominant role of finance capital in economic progress.
Question 6. What reasons can you name for the emergence of institutions?
1. low transaction costs;
2. high transaction costs;
3. low production costs;
4. high transformation costs;
5. marginal cost.
Question 7. What is not part of the institute?
1.formal rules;
2. informal norms;
3. organizations;
4. system of punishment;
5. formal norms.
Question 8. What determines the greater stability of informal norms?
1. the duration of their evolution;
2. artificial establishment "from above";
3. judicial practice;
4. legislation;
5. society.
Question 9. What are the formal rules?
1.the constitution;
2. tradition;
3. custom;
4. law;
5. category.
Question 10. What are transaction costs?
1. these are the costs associated with the production of products;
2. these are the costs associated with the production of goods and services;
3. these are non-production costs;
4. these are the costs of purchasing raw materials and supplies;
5. these are the costs associated with the purchase of services.
Question 11. What costs do not belong to transaction costs?
1. costs of information retrieval;
2. the costs of opportunistic behavior;
3. costs of maintenance of machines and equipment;
4. costs of protecting property rights;
5. variable costs.
Question 12. What are the costs of transaction costs?
1.the cost of the teacher´s salary;
2. the family´s expenses for paying for a mobile phone;
3. the costs of the company for the purchase of raw materials and materials;
4. family expenses for gasoline;
5. the family´s expenses for whitewashing the ceiling flooded by neighbors from the upper floor.
Question 13. What is meant by production costs in microeconomic analysis?
1.expressed in value terms, production costs associated with the refusal of alternative use of production resources;
2. expressed in value terms, production costs associated with payment for consumed production resources;

Additional information

Question 14. Which of the following equalities is a prerequisite for the optimization of production costs?

1. equality of marginal productivity of factors of production;

2. equality between the ratio of marginal productivity of factors of production and prices;

3. equal proportions marginal and average productivity of factors;

4. true 1) and 3);

5. All of the above is true.

Question 15. In which case, the Coase theorem stops working?

1. under perfect information available to both sides;

2. when the imperfect information available to both sides;

3. If you know only the opposite side of the structure of preferences;

4. if it is considered in the framework of game theory;

5. Definitely not.

Question 16. What conclusions follow from the Coase Theorem?

1. The external effects are not one-sided, it is important to minimize them;

2. If the transaction costs are low and property rights are defined, then the state can eliminate the costs of externalities, ie, turn them into internalising;

3. a clear allocation of property rights leads to the fact that the external effects are converted to internalising;

4. If the transaction costs are low and property rights are defined, the market itself can eliminate the costs of externalities, ie, turn them into internalising;

5. The correct answer is 1), 2), 4).

Question 17. What is the economic meaning of "specification of property rights"?

1. the establishment of special institutions for the registration of owners of firms;

2. The creation of conditions for the acquisition of property rights to those who are above the value conferred by the possibility of production and entertainment;

3. creating conditions for the emergence of private firms in Russia;

4. The correct answer is 1), 3);

5. all the answers wrong.

Question 18. In accordance with the theory of property rights, if the neighbor on dacha planted fast-growing poplar shade plot of land on which you grow strawberries, what will you do?

1. go to court;

2. toss neighbor to the tube station poplar moth larvae;

3. politely ask to cut down a tree;

4. arrange compensation neighbor (2 buckets of their strawberries when he cut down a tree);

5. Discard the cultivation of strawberries.

Question 19. What is not considered a theory of property rights?

1. The problem of the erosion of property rights;

2. The problem of externalities;

3. The problem of specification of property rights;

4. The problem of formation of property rights;

5. The problem of the internal effects.

Question 20. What determines the borders of the state as part of the institutional approach?

1. its aggressive policy;

2. its ability to exercise control over a certain territory and to tax citizens;

3. The political will;

4. The establishment of the formal "rules of the game" in a certain area;

5. economic will.

Question 21. What is the cause of the state in the framework of non-institutional theory?

1. minimize the transaction costs;

2. The ability of the state to manage economic processes;

3. "supervision" of the market mechanism;

4. The political will of certain interest groups;

5. maximizing transaction costs.

Question 22. What does not belong to the functions of the state institutions with the market system?

1. The monetary and fiscal policy in the different phases of the economic cycle;

2. The establishment of "rules of the game" in society;

3. The establishment of uniform norms and standards for measuring the quality of products;

4. The regulation of prices and volumes of production;

5. regulation of prices and volumes of sales.

Question 23. What is the role of the state in solving the problem of "for whom to produce?"

1. contribute to the strengthening of equality in society;

2. stimulate the growth of

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