Economics quiz

[Frodo]

this quiz is rather lengthy and theoretical, but you learn much from various schools as you are doing it -

Are You an Austrian?
http://www.mises.org/quiz.asp?QuizID=4

here are my scores:

38 out of a hundred -and i seem to be a mix between the Keynesian and Chicago schools of economic thought -though i would consider myself mainly a Keynesian.
______________________________________

and in case anyone have any question as to what these schools are:

Keynesian economics
http://en.wikipedia.org/wiki/Keynesian_economics

Chicago economics
http://en.wikipedia.org/wiki/Chicago_school_%28economics%29

Austrian economics
http://en.wikipedia.org/wiki/Austrian_school

Socialism
http://en.wikipedia.org/wiki/Socialism

[Erc]

68/100.  Chicago/Austrian mix.

[Tory]

I tried to read this rubbish but my head started to hurt.

[The Duke]

Didn't finish because I'm pressed for time, but I'm a moderate Keynesian with a dash of Chicago.

[Gabu]

That was quite a long test, but quite an interesting one.

I got 51 / 100.  Most of my answers were the Chicago answer, with the remainder distributed roughly one-third to Austrian answers and two-thirds to Keynesian answers.  I didn't give a single socialist answer, not surprisingly.

So... Chicago, I guess.

[John Dibble]

85 / 100

[David S]

80/100

[falling apart like the ashes of American flags]

ugh, way too sleepy now. This can wait for the weekend.

[J. J.]

58 / 100

Strongly Chicago with a bit of Keynseian and Austrian thrown in.

[Gabu]

58 / 100

Strongly Chicago with a bit of Keynseian and Austrian thrown in.

I like you already.

[DanielX]

76/100. Whatever that is... I think mainly Austrian.

[Gabu]

76/100. Whatever that is... I think mainly Austrian.

The closer to 100, the most Austrian it is.

[Bono]

Id already taken it, I got 98 austrian.

[○∙◄☻¥tπ[╪AV┼cVê└]

Wow, I choose answers from all 4 schools of thought

Socialist 6
Keynes 16
Chicago 1
Austrian 2

I'm more Austrian than Chicago, hah.

Here's my Chicago and Austrian answers

2. What is the proper method to conduct research in economic science?

B. Like the physicist, the economist (if he wants to be scientific) should construct a precise model that yields quantitative predictions about economic variables, such as GDP and unemployment. Then the economist should test those predictions against the actual data as collected by statistical researchers. At any given time, the best explanation or "theory" of a certain economic phenomenon is that model which yields the best fit between predictions and actual data.

5. What is the source of economic value?

A. Physical objects such as a banana or an automobile do not possess intrinsic economic value. On the contrary, only a human mind can attribute value to such items, and only then do economists classify them as goods. An object is valuable only because there is at least one human being who believes that this object can help satisfy his or her subjective desires. For example, even if a particular root cures cancer, if no one knows this fact, then the root has no economic value, and people will not trade money for it. Consequently, value is caused by an individual's subjective desires and his or her beliefs about the causal properties of a particular item.


24. What are the economic implications of warfare?

A. Warfare reduces economic welfare by destroying real resources. It can benefit a select few who benefit from military spending on the winning side only. For most consumers and businesses it means drastically reduced prosperity. The only justifiable reason for a war is pure self defense.

[Wakie]

Well, looks like I'm a Keynesian.  My score was a 35.

My answers:

Keynesian = 15
Chicago = 6
Socialist = 2
Austrian = 2

[opebo]

I'm Keynesian:  Score 29

Answers:

Keynesian = 21
Chicago     = 2
Socialist     = 1
Austrian     = 1

[minionofmidas]

I got a 31.
Of course I almost always knew exactly which answer represented which school, so that seriously flaws the result.
4 Marxist (incorrectly called "Socialist" throughout; 3 of them in a row when I started to lose patience somewhere around no.15) -13 Keynesian or sometimes Classical - 6 Chicago, oddly enough I somehow managed to pick this one basically wheneverI found all the answers anwers to be seriously flawed - 2 Austrian.

[TeePee4Prez]

Keynesian.  Score=36.  opebo I'm surprised about you at a 29. 

[opebo]

Keynesian.  Score=36.  opebo I'm surprised about you at a 29. 

Well, I have to admit I was trying to pick the Keynesian answers.  I guess I still have a soft spot for laissez-faire, but I've reformed.  From any other position than that of a rich person, Keynesian economics is more beneficial than the more right-wing schools.

I'm still uncomfortable with some of the ends towards which Keynesian means were employed by the New Deal coalition - dubious things like Suburbia, the Interstate Highway system, and so forth.  On the other hand some of its other creations, like the Middle Class, Unions, and Welfare, seem quaint and charming in todays new-Robber Baron era.

[TeePee4Prez]

Keynesian.  Score=36.  opebo I'm surprised about you at a 29. 

Well, I have to admit I was trying to pick the Keynesian answers.  I guess I still have a soft spot for laissez-faire, but I've reformed.  From any other position than that of a rich person, Keynesian economics is more beneficial than the more right-wing schools.

I'm still uncomfortable with some of the ends towards which Keynesian means were employed by the New Deal coalition - dubious things like Suburbia, the Interstate Highway system, and so forth.  On the other hand some of its other creations, like the Middle Class, Unions, and Welfare, seem quaint and charming in todays new-Robber Baron era.

I've surprisingly had some Socialist, Chicago, and even 2 Austrian answers.  Most were Keynesian though.  I consider myself a left-center Democrat on economic issues.

[A18]

This test is pretty screwed up. All of those answers are garbage-like nonsense.

[opebo]

This test is pretty screwed up. All of those answers are garbage-like nonsense.

Economic jargon.

[Storebought]

I scored 68, and yes, some of the answers seemed to be a bit leading

I did answer one question as a Socialist: The value of bicycles and eggs. Though if I considered the question better (for ex., placing the value of a Beethoven symphony score, which is only inked paper), then I would have gone Austrian.

And the questions I answered as a Keynsian (all two) involved military matters ("Yes, Virginia, war is good for business") and avoiding the Hobbesian State of Nature. And, no, roads are simply not profitable enterprises. They never have been and never will be.

In sum, I'm a Chicagoan on the mechanics of the economy, an Austrian on my attitudes on how economics affects society at large, and a tepid Keynsian when I defend the homeland.

I'm a Socialist when I'm a moron who can't read a question

[Bono]

I scored 68, and yes, some of the answers seemed to be a bit leading

I did answer one question as a Socialist: The value of bicycles and eggs. Though if I considered the question better (for ex., placing the value of a Beethoven symphony score, which is only inked paper), then I would have gone Austrian.

And the questions I answered as a Keynsian (all two) involved military matters ("Yes, Virginia, war is good for business") and avoiding the Hobbesian State of Nature. And, no, roads are simply not profitable enterprises. They never have been and never will be.

In sum, I'm a Chicagoan on the mechanics of the economy, an Austrian on my attitudes on how economics affects society at large, and a tepid Keynsian when I defend the homeland.

I'm a Socialist when I'm a moron who can't read a question

Do you know that brisa, a portuguese highway compnay, had an EBITDA of 408 million euros in 2003?

[Storebought]

I scored 68, and yes, some of the answers seemed to be a bit leading

I did answer one question as a Socialist: The value of bicycles and eggs. Though if I considered the question better (for ex., placing the value of a Beethoven symphony score, which is only inked paper), then I would have gone Austrian.

And the questions I answered as a Keynsian (all two) involved military matters ("Yes, Virginia, war is good for business") and avoiding the Hobbesian State of Nature. And, no, roads are simply not profitable enterprises. They never have been and never will be.

In sum, I'm a Chicagoan on the mechanics of the economy, an Austrian on my attitudes on how economics affects society at large, and a tepid Keynsian when I defend the homeland.

I'm a Socialist when I'm a moron who can't read a question

Do you know that brisa, a portuguese highway compnay, had an EBITDA of 408 million euros in 2003?

The Lake Pontchartrain Causeway connecting Metairie to Mandeville is a toll highway, and it's been losing money ever since it was built.

I will need to read if that company made its profits from construction work, or from the highways it maintains.

Austrian: 12 (really 13)
Chicago: 8
Keynesian/Classical: 4 (mostly b/c I think infrastructure will not pay for itself and war is good for the economy)
Socialist: 1 (really 0)