Econ 05.01 How Economists Ideas Affect Us Quiz – Flashcards
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Read the quotation above, an excerpt from a speech by a U.S. public official. The statement most directly reflects which of the following economic principles and contradicts which other?
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John Maynard Keynes's government responsibility, Adam Smith's free enterprise
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This statement contrasts most strongly with which of the following economic theories?
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Market forces work best when left alone.
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This quotation best supports which of the economic theories of John Maynard Keynes?
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Government regulation is necessary to stabilize the economy.
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Which of the following statements most clearly aligns with the economic theories of Karl Marx?
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Government manages the economy to prevent economic inequality.
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Which of the following statements best describes the economic theories of Adam Smith?
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Private individuals and businesses ought to answer most economic questions for themselves.
