2020_1 TMA2 Questions & Answers: ECO324 - History of Economic Thought

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Richtubor
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2020_1 TMA2 Questions & Answers: ECO324 - History of Economic Thought

Postby Richtubor » Sun May 17, 2020 9:06 am

2020_1 TMA2 Questions & Answers: ECO324 - History of Economic Thought




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According to Ibn Khaldun (1958), two different kinds of social milieu have characterized human development, the “umran al-badouri
( )� and the “umran
alhadhari ( ).
Answer: nomad civilization/urban civilization

What term best describe economic policy of restraining trade between nations., through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports and anti-dumping laws
Answer: protectionism

Which of the following is associated with mercantilism?
Answer: bullion

The physiocratic philosophy was based upon some concepts. Which of the following is NOT one of them?
Answer: gross product

On the revenue side,
regarded the tax on rent as the most suitable source of public revenue
Answer: william petty

The three countries described as neomercantilist are?
Answer: china, japan and Singapore

Which of the following does NOT best describe mercantilism?
Answer: a narrow pattem of economic policy

Another name for physiocracy is the System
Answer: agricultural

Aristotle was the student of
to Alexander, the great.
and
Answer: plato/tutor

Which of the following is NOT a critique of mercantilism?
Answer: their ideas about capital and interest were perfect





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