https://www.surveymonkey.com/s/M5TMKGJ

You can post your answers in here, if you like. Get some discussion going. Nonetheless, this is purely for my own interest.

For the record, my own answers:

How would you rate your understanding of economics?
- Knowledgeable (somewhat, I obviously don't even approach professional economists)

Broadly, how do you think people behave?
- A mixture of both neoclassical rationality (in the long-run) and behavioural irrationality (in the short-run)

On the whole, workers are fairly compensated by broadly free markets for their labour.
- Agree

Are tariffs necessary for the well-being of a domestic economy?
- No, they hurt the consumer by inflating prices

Should we have a minimum wage?
- No, provided there is some kind of social safety net for the worst-off

What determines the value of a good or service?
- The subjective value the consumer assigns to it, translated by the cost they are willing to bear for it

Should the government use fiscal stimulus to counteract recessions?
- No, fiscal policy is unwieldy and we have better alternatives

Should the government use monetary stimulus to counteract recessions?
- Yes, using a mixture of both (money supply and interest rates)

What is the most important driver of economic growth?
- Savings and investment

What, primarily, caused the 2008 Recession?
- Central banks in America and Europe failed to respond to economic movements, and caused a recession by being overly-tight (although, I do think over-indebtedness was also a serious problem)

Damn it, meta. Question 4 needs more answers and question 6 should be both.

1. How would you rate your understanding of economics?
-mostly ignorant

2. Broadly, how do you think people behave?
-A mixture of the two

3. On the whole, workers are fairly compensated by broadly free markets for their labour.
-Agree

4. Are tariffs necessary for the well-being of a domestic economy?
-No, they hurt the consumer by inflating prices/don't really know

5. Should we have a minimum wage?
-No, provided there is some kind of social safety net for the worst-off

6. What determines the value of a good or service?
-The subjective value the consumer assigns to it, translated by the cost they are willing to bear for it

7. Should the government use fiscal stimulus to counteract recessions?
-don't know... i'm inclined to say no though

8. Should the government use monetary stimulus to counteract recessions?
-Yes, using a mixture of both

9. What is the most important driver of economic growth?
-Consumption... i think?

10. What, primarily, caused the 2008 Recession?
-don't know.. although I guess I could agree with the banks not responding to economic movements



i'm gonna be honest here, i don't know shit about economics. i'm just choosing what i think makes sense from some offhand knowledge

 

Well here's mine:

1. How would you rate your understanding of economics?

Mostly ignorant

2. Broadly, how do you think people behave?

Behaviourally (irrationally, driven by emotion)

3. On the whole, workers are fairly compensated by broadly free markets for their labour.

Agree

4. Are tariffs necessary for the well-being of a domestic economy?

Yes, they protect domestic industry from cheap, foreign competition

5. Should we have a minimum wage?

Yes, it protects workers with poor bargaining power from exploitation by employers

6. What determines the value of a good or service?

The labour which goes into the creation of such a good or service

7. Should the government use fiscal stimulus to counteract recessions?

Yes, in the form of lower taxes


8. Should the government use monetary stimulus to counteract recessions?

Don't know

9. What is the most important driver of economic growth?

Savings and investment

10. What, primarily, caused the 2008 Recession?

General over-indebtedness led to an unstable financial system, and the ensuing credit crunch caused the economy to collapse