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040 - E.37:Economic Theories

Authored by Sheridan Kaatz

Social Studies

12th Grade

Used 1+ times

040 - E.37:Economic Theories
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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is often considered the father of modern economics and a major proponent of laissez-faire economic policies?

John Maynard Keynes

Adam Smith

Friedrich Hayek

Milton Friedman

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What concept did Adam Smith advocate for, suggesting that individuals pursuing their own self-interest would benefit society?

Supply-side economics

Central planning

Monetary policy

The invisible hand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economist believed that government intervention is necessary to stabilize the economy during recessions?

Adam Smith

Arthur Laffer

John Maynard Keynes

Friedrich Hayek

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who emphasized the importance of individual liberty and the role of the free market in allocating resources efficiently?

Friedrich Hayek

Milton Friedman

Arthur Laffer

John Maynard Keynes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic theory focuses on stimulating growth by reducing barriers to production and investment?

Supply-Side Economics

Classical Economics

The Austrian School

Demand-Side Economics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who argued that cutting taxes and regulations can incentivize businesses to invest and create jobs?

Arthur Laffer

Adam Smith

Milton Friedman

Friedrich Hayek

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do Monetarists believe the government should focus on to promote economic stability?

Reducing individual liberty

Implementing central planning

Increasing government spending

Controlling the money supply

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