What Do You Know About The Institute Of Economic Affairs?
The Institute of Economic Affairs (IEA) is a privately funded non-profit organization that promotes free-market economics. Institute of Economic Affairs organization was found in the 1950s by Antony Fisher in Westminster, London, United Kingdom. How much more do you know about the Institute of Economic Affairs? Find out as you take this quiz.
- 1.
The major economic ideaology promoted by the institute of economic affairs is?
- A.
Open market
- B.
Free Market
- C.
Closed Market
- D.
Indigenous market
Correct Answer
B. Free MarketExplanation
The Institute of Economic Affairs promotes the economic ideology of a free market. This means that they advocate for minimal government intervention in the economy and believe that individuals and businesses should have the freedom to make their own economic decisions. In a free market, prices are determined by supply and demand, and competition drives efficiency and innovation. This ideology emphasizes the importance of individual liberty and property rights in economic systems.Rate this question:
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- 2.
The institute of economic affairs was founded in what year?
- A.
1946
- B.
1945
- C.
1955
- D.
1972
Correct Answer
C. 1955Explanation
The correct answer is 1955. The Institute of Economic Affairs (IEA) was founded in 1955. It is a think tank based in the United Kingdom that promotes free-market economics and classical liberal ideas. The IEA conducts research, publishes studies, and organizes events to influence public policy and debate on economic issues.Rate this question:
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- 3.
Anthony Fisher was inspired to open this institute after reading the book a road to serfdom authored by?
- A.
Friedrich Hayek
- B.
Samson torak
- C.
Simon Kjaer
- D.
Frank Wilson
Correct Answer
A. Friedrich HayekExplanation
Anthony Fisher was inspired to open this institute after reading Friedrich Hayek's book "The Road to Serfdom." Hayek's book is a classic in the field of economics and political philosophy, arguing against the dangers of collectivism and advocating for individual liberty and free markets. Fisher, upon reading this influential work, was inspired to establish an institute that would promote these ideas and advance the principles of classical liberalism.Rate this question:
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- 4.
The institute of economic affairs has its headquarters in which location?
- A.
Paris, France
- B.
Geneva, Switzerland
- C.
London. England
- D.
Ottawa, Canada
Correct Answer
C. London. EnglandExplanation
The correct answer is London, England because the question asks for the location of the headquarters of the Institute of Economic Affairs, and London, England is the correct location.Rate this question:
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- 5.
The Institute of Economic Affair's Original Trust Deed was signed by the following members, except?
- A.
John Harding
- B.
Adam smith
- C.
Anthony Fisher
- D.
Olivier Smedley
Correct Answer
B. Adam smithExplanation
The Institute of Economic Affairs' Original Trust Deed was signed by John Harding, Anthony Fisher, and Olivier Smedley. Adam Smith is not mentioned as one of the signatories.Rate this question:
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- 6.
The institute of Economics affairs educational blog was established in what year?
- A.
2006
- B.
2007
- C.
2008
- D.
2009
Correct Answer
A. 2006Explanation
The correct answer is 2006.Rate this question:
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- 7.
The popular Journal of economic affairs is released by the Institute of economic affairs?
- A.
Monthly
- B.
Quarterly
- C.
Yearly
- D.
Bi-monthly
Correct Answer
A. MonthlyExplanation
The popular Journal of economic affairs is released by the Institute of economic affairs on a monthly basis.Rate this question:
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- 8.
The most important lecture conference hosted by the institute of economic affairs is the?
- A.
Annual economic lecture
- B.
Monthly economic lecture
- C.
Annual Hayek Lecture
- D.
Annual Fisher Lecture
Correct Answer
C. Annual Hayek LectureExplanation
The correct answer is Annual Hayek Lecture. The question asks for the most important lecture conference hosted by the institute of economic affairs, and the Annual Hayek Lecture is likely the most significant one. The Hayek Lecture is named after Friedrich Hayek, a renowned economist and Nobel laureate, and it is an annual event that brings together prominent economists and thinkers to discuss important economic ideas and theories. This lecture is highly regarded in the field of economics and is considered a highlight of the institute's calendar.Rate this question:
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- 9.
The Institute of economic affairs agency body ,Shadow Monetary Policy Committee was established in what year?
- A.
1997
- B.
1996
- C.
1998
- D.
1999
Correct Answer
A. 1997Explanation
The correct answer is 1997. The Shadow Monetary Policy Committee was established in 1997 by the Institute of Economic Affairs agency body.Rate this question:
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- 10.
The first director general of the Institute of economic affairs was?
- A.
Anthony fisher
- B.
John blundell
- C.
Raph Harris
- D.
Graham mather
Correct Answer
C. Raph HarrisExplanation
Raph Harris was the first director general of the Institute of Economic Affairs.Rate this question:
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Jul 15, 2018Quiz Created by
Gregorynaomi
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