Question - 608

This is an illustration of which prevalent theory?

Answer: Hubbert peak theory or peak oil theory. Ameya, Sameer Gauria, KAMANASISH, Jamie, Sribharath, Saket, and Manix got it.

Question - 605

What was this curious event?

Answer: Tulip mania. The figure charts the price of tulip bulb contracts showing the tulip bubble burst dramatically in February 1637 (as Dinesh pointed out, a history-of-the-day question courtesy Wikipedia). Ameya, Dinesh, and Kaushik got it. Great job.

Question - 595

What does this map depict?

Question - 581

Fill in the blanks with a public phenomenon.

Answer: Percent of people in those country who paid a bribe . Dinesh, mekie, Jaggi, Krithi, and Vetti got it. Nicely done.

Question - 481

What originated as a result of this statute?

Answer: The Statute of Anne gave rise to copyright law. Mekie, Karthik, Prachi, Paragbm, Matti Tapaninen, Rajesh K., Hirak, Nemani, Iam (credited for previous question as well), and Dinesh got it.

Question - 283

This cartoon is a reference to the introduction of which famous policy?

Answer: The New Deal by FDR that brought America out of the great depression. Iam, Hari, Schmetterling, Raghu, Vetti, Rajesh K, nice try, Vijay, Srivats and Samrat got it. Well done.

Question - 174

The second and third visuals deal with widely different phenomena (in completely different fields) but are both named after the first visual. Identify the name and the reasoning behind it.

Answer: The phenomenon is named after Goldilocks of Goldilocks and the three bears story (first visual). The Goldilocks zone in astronomy is the zone where it is neither too hot nor too cold ("just right" like in the story). A Goldilocks economy is one that does not face the threat of inflation or recession (again "just right"). Iam, Adi, Mekie, Sriraam, Hirak, Schmetterling, Swapnaa, Rajeev and two anons got it. Well done.

Question - 126

Today's question is courtesy Iam. Connect the people.

Answer: The people from the top left counterclockwise are Hank Paulson, John Keynes, Neil Kashkari and Alistair Darling. These are the key figures associated with the financial bailout packages of the U.S and United Kingdom. John Keynes was a famous economist who was the first to champion interventionist government policy to mitigate the adverse effects of recessions. The others are in charge of the current bailout packages. Raghu was the only one to get it. Bravo.

Question - 90

This is a paradoxical concept in economics an example of which is shown in the price-demand curve in the first visual. Historically, the most famous example of this phenomenon is shown in the second visual. However, recently this has been debunked and the third visual is suggested as an example of this phenomenon. Identify the phenomenon.

Answer: The phenomenon is that of the Giffen good. The classic example was thought to be potatoes during the Irish famine but this was recently debunked. Gasoline is thought to be a modern example. See Swapnaa's comments for more details. Swapnaa, Rahul Trivedi, Hirak, Trevor Burnham, Iam and Raghu got it. Well done.