Institutional economics test with answers 27 questions

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