Economic Thinkers

The policy/philosophy supporting capitalism is?

• Classic Communism

• Laissez-faire

• Idealistic Socialism

• None of the above

John Maynard Keynes was:

• A famous physicist

• A renowned economist

• A celebrated author

• A well-known politician

Friedrich Hayek was known for his economic beliefs in:

• Keynesian economics

• Marxist economics

• Classical liberalism

• Monetarism

Hayek and Friedman believed in free-market capitalism. Who did their ideas begin to influence?

• Politicians

• Economists

• Business leaders

• All of the above

Friedman believed in:

• Free-market capitalism

• Socialism

• Communism

• Mixed economy

Friedman’s views can be summarized as:

• A focus on monetary policy

• A focus on fiscal policy

• A focus on trade policy

• A focus on environmental policy

Who is known as the father of modern economics?

• Adam Smith

• Karl Marx

• John Maynard Keynes

• Milton Friedman

Which economic thinker is associated with the concept of 'invisible hand'?

• David Ricardo

• Adam Smith

• John Stuart Mill

• Thomas Malthus

Karl Marx is best known for his work on which economic theory?

• Capitalism

• Socialism

• Communism

• Mercantilism

Which economist is famous for his theory of comparative advantage?

• Adam Smith

• David Ricardo

• John Maynard Keynes

• Friedrich Hayek