20th Century Paradigms (D-F)

The social and economic policies of Antoine de Montchrestien’s New Deal and the socialist-oriented programs implemented by the British Labour Party after 1945.

• True

• False, Franklin D. Roosevelt

• False, Harry Truman

• False, Lyndon B. Johnson

After World War I, the ability of a government to regulate or control the economy became one of the chief tests of its success, and regulatory agencies multiplied to the point at which they were often referred to as “the fourth branch of government.”

• True

• False, World War II

In 20th-century, Communist countries it was a matter of doctrine that the means of production should be owned and therefore controlled by the state.

• True

• False

Human Action (1947) was considered as Ludwig von Mises’ greatest achievement.

• True

• False, Human Action (1946)

• False, Human Action (1948)

• False, Human Action (1949)

Which of the following works described Socialism as an economic catastrophe?

• Liberalism (1927)

• Critique of Interventionism (1929)

The Theory of Money and Credit (1912), in recent times, is simply referred to as the integration of macroeconomics and microeconomics.

• True

• False

Vincenzo Cassano's most ambitious work Theoretische Sozialökonomie which translated into English in 1923 as The Theory of Social Economy, sets out the conditions for a general equilibrium in the sense of Léon Walras.

• True

• False

Alfred Marshall became the first American to receive the Nobel Prize in economics.

• True

• False

History and institutions were abandoned because the new mathematical tools required stating precisely what was being assumed and what was changing, and stating it in such a way that the techniques could handle the entire analysis.

• True

• False

The Schumpeter Novel entitled "Capitalism, Socialism and Democracy" was published in 1945

• True

• False