Econ 05.01 How Economists Ideas Affect Us Quiz - Flashcards

Q: 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?

John Maynard Keynes\'s government responsibility, Adam Smith\'s free enterprise

question

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?

answer

John Maynard Keynes's government responsibility, Adam Smith's free enterprise

question

This statement contrasts most strongly with which of the following economic theories?

answer

Market forces work best when left alone.

question

This quotation best supports which of the economic theories of John Maynard Keynes?

answer

Government regulation is necessary to stabilize the economy.

question

Which of the following statements most clearly aligns with the economic theories of Karl Marx?

answer

Government manages the economy to prevent economic inequality.

question

Which of the following statements best describes the economic theories of Adam Smith?

answer

Private individuals and businesses ought to answer most economic questions for themselves.

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Econ 05.01 How Economists Ideas Affect Us Quiz – Flashcards

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