040 - E.37:Economic Theories
Quiz
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Social Studies
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12th Grade
•
Practice Problem
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Medium
Sheridan Kaatz
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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
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economist is known for the belief that excessive expansion of the money supply leads to inflation?
Milton Friedman
Arthur Laffer
John Maynard Keynes
Friedrich Hayek
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