Opposition and Controversies Surrounding Historical Economic Policies Quiz

Explore opposition and debates around key historical economic policies. From supply-side economics to central planning, delve into macroeconomic controversies.

#1

Who was the primary advocate of supply-side economics during the 1980s in the United States?

Milton Friedman
John Maynard Keynes
Ronald Reagan
Paul Krugman
#2

Which of the following economists is associated with the theory of 'laissez-faire' capitalism?

John Maynard Keynes
Milton Friedman
Friedrich Hayek
Karl Marx
#3

Who wrote the influential book 'The Wealth of Nations', which laid the foundation for classical economics and advocated for free markets and limited government intervention?

John Maynard Keynes
Adam Smith
Karl Marx
Milton Friedman
#4

In which country did the 'Great Leap Forward' and the 'Cultural Revolution' occur, both of which were controversial economic policies under Communist rule?

Russia
China
North Korea
Cuba
#5

Which historical economic policy is based on the idea that a country should focus on exporting more than it imports in order to build wealth and power?

Monetarism
Communism
Mercantilism
Socialism
#6

Which historical economic policy aimed to stimulate economic growth by cutting taxes on businesses and high-income individuals?

Keynesian economics
Supply-side economics
Monetarism
Mercantilism
#7

Which historical economic policy advocated for government intervention to control the money supply to stabilize economic fluctuations?

Keynesian economics
Monetarism
Mercantilism
Austrian economics
#8

Which historical economic policy emphasized the importance of accumulating wealth through a positive balance of trade, often through protectionist measures and colonial expansion?

Keynesian economics
Supply-side economics
Mercantilism
Monetarism
#9

Which historical economic policy is characterized by government ownership or control of major industries and resources?

Capitalism
Socialism
Communism
Feudalism
#10

Which economic policy approach emerged as a response to the Great Depression and emphasized government spending to stimulate demand and stabilize the economy?

Austrian economics
Monetarism
Keynesian economics
Supply-side economics

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