Economic Schools of Thought

Front

Founder of modern economics?

Back

Adam Smith

Front

Government intervention to boost the economy in the 1930s:

Back

John Maynard Keynes

Front

Leader of the Monetarist school advocating steady money supply for economic growth.

Back

Milton Friedman

Front

Economic thought adopted by FDR in the 1930s?

Back

Keynesian

Front

Government's "hands-off" approach to the economy:

Back

Laissez-faire capitalism

Front

Theory controlling economy via Money Supply?

Back

Monetarism

Front

Keynesian economics emphasizes:

Back

Fiscal Policy (Gov't intervention)

Front

Supply-siders favor:

Back

Deregulation

Front

Origin of supply-side economics?

Back

Neo classical economists.

Front

Fiscal policy involves changing taxation and government spending to influence aggregate demand and economic activity.

Back

Correct Answer: Policies related to changing the levels of taxation and government spending to influence aggregate demand and economic activity.