QUES: Hayek's principal investigations in economics concerned capital, money, and the business cycle. Mises had earlier applied the concept of marginal utility to the value of money in his Theory of Money and Credit (1912), in which he also proposed an explanation for "industrial fluctuations" based on the ideas of the old British Currency School and of Swedish economist Knut Wicksell. Hayek used this body of work as a starting point for his own interpretation of the business cycle, elaborating what later became known as the "Austrian Theory of the Business Cycle". Hayek spelled out the Austrian approach in more detail in his book, published in 1929, an English translation of which appeared in 1933 as Monetary Theory and the Trade Cycle. There he argued for a monetary approach to the origins of the cycle. In his Prices and Production (1931), Hayek argued that the business cycle resulted from the central bank's inflationary credit expansion and its transmission over time, leading to a capital misallocation caused by the artificially low interest rates. Hayek claimed that "the past instability of the market economy is the consequence of the exclusion of the most important regulator of the market mechanism, money, from itself being regulated by the market process".

What is the name of Mises' 1912 book?
What is the answer?
ANS: Theory of Money and Credit
QUES: Islamic architecture used mosaic technique to decorate religious buildings and palaces after the Muslim conquests of the eastern provinces of the Byzantine Empire. In Syria and Egypt the Arabs were influenced by the great tradition of Roman and Early Christian mosaic art. During the Umayyad Dynasty mosaic making remained a flourishing art form in Islamic culture and it is continued in the art of zellige and azulejo in various parts of the Arab world, although tile was to become the main Islamic form of wall decoration.

Who conquered the Eastern Provinces of the Byzantine empire?
What is the answer?
ANS: Muslim
QUES: One of the most influential works during this burgeoning period was Niccolo Machiavelli's The Prince, written between 151112 and published in 1532, after Machiavelli's death. That work, as well as The Discourses, a rigorous analysis of the classical period, did much to influence modern political thought in the West. A minority (including Jean-Jacques Rousseau) interpreted The Prince as a satire meant to be given to the Medici after their recapture of Florence and their subsequent expulsion of Machiavelli from Florence. Though the work was written for the di Medici family in order to perhaps influence them to free him from exile, Machiavelli supported the Republic of Florence rather than the oligarchy of the di Medici family. At any rate, Machiavelli presents a pragmatic and somewhat consequentialist view of politics, whereby good and evil are mere means used to bring about an endi.e., the secure and powerful state. Thomas Hobbes, well known for his theory of the social contract, goes on to expand this view at the start of the 17th century during the English Renaissance. Although neither Machiavelli nor Hobbes believed in the divine right of kings, they both believed in the inherent selfishness of the individual. It was necessarily this belief that led them to adopt a strong central power as the only means of preventing the disintegration of the social order.

What group did Thomas Hobbes support more than the other?
What is the answer?
ANS:
unanswerable