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Which of economists considered the founder of traditional institutionalism? Ronald Coase; 2. Does the definition of the subject choice answers Institutional Economics? The objective of the system of economic relations between classes of people that are emerging in the process of production, distribution, exchange and consumption of goods; 2. The search for effective forms of organization of social economy, the science of wealth; 3. Examine the economic behavior through the prism of stereotypes of social agents; 4.
The rational behavior of economic agents in the process of production, distribution and consumption of wealth in a world of limited resources; 5. Definitely not. What is the main reason for the evolution of social institutions?
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The development of production; 2. Social progress; 3. Evolution of democracy; 4. Positive transaction costs; 5. The negative transaction costs. Question 4: What are the main categories of the 'old' institutionalism? Institutions; 2.
The transaction costs; 3. The marginal utility; 4. The production factors; 5. Marginal productivity.
What are the main differences between modern 'old' and 'new' institutionalism? The use of the category of 'transaction costs' on a par with the category of 'institution' for economic analysis; 2. Consideration of the society as a whole; 3. Defining the role of institutions and their impact on society; 4. The main provisions formed in the works of American institutionalists; 5. The primary role of financial capital in the economic progress. What are some causes of the institutions?
Low transaction costs; 2. The high transaction costs; 3.
The low production costs; 4. High transformation costs; 5. The marginal cost.
Question 7: What is not part of the institution? The formal rules; 2.
Informal norms; 3. Organization; 4. The system of punishment; 5. The formal rules.
What determines the greater stability of informal norms? The duration of their evolution; 2. The establishment of an artificial 'from above'; 3. Jurisprudence; 4.
Legislation; 5. What applies to the formal rules? Constitution; 2. Tradition; 3.
What are the transaction costs? That the costs associated with the production of goods; 2.
Is the costs associated with the production of goods and services; 3. Are costs not associated with production; 4. It costs to purchase raw materials; 5. This costs associated with the purchase of services. What are the costs do not relate to transaction costs? The costs of searching for information; 2. The costs of opportunistic behavior; 3.
The costs of maintenance of machinery and equipment; 4. The costs of protection of property rights; 5. The variable costs. What are the costs related to transaction costs? The cost of teachers´ salaries; 2. The costs of families to pay for the mobile phone; 3.
The costs of the company for the purchase of raw materials; 4. The cost of a family of petrol; 5. The cost of family whitewash the ceiling, bathed in neighbors from the top floor.
What is meant by the cost of production in the microeconomic analysis? Expressed in value terms the costs of production related to the failure of an alternative use of productive resources; 2. Expressed in value terms the costs of production related to the cost of the consumed productive resources; 3. The physical volume of industrial resources consumed to produce a given amoun. In which case, the Coase theorem stops working? 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. What conclusions follow from the Coase Theorem? 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).