Econ 05.01 How Economists Ideas Affect Us Quiz

28 August 2022
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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.