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Opposition and Controversies Surrounding Historical Economic Policies Quiz

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

Ronald Reagan

Explanation

Ronald Reagan was the primary advocate during the 1980s.

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

Friedrich Hayek

Explanation

Associated with 'laissez-faire' capitalism.

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?

Adam Smith

Explanation

Author of 'The Wealth of Nations', advocate of free markets and limited government intervention.

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

China

Explanation

'Great Leap Forward' and 'Cultural Revolution' occurred in China under Communist rule.

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?

Mercantilism

Explanation

Focus on exporting more than importing for wealth and power.

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

Supply-side economics

Explanation

Stimulates growth through tax cuts on businesses and high-income individuals.

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

Monetarism

Explanation

Government intervention to control money supply for economic stability.

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

Mercantilism

Explanation

Accumulating wealth through trade balance and protectionism.

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

Socialism

Explanation

Government ownership or control of major industries and resources.

#10

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

Keynesian economics

Explanation

Emerged post-Great Depression, emphasizes government spending for demand stimulation and economic stabilization.

Opposition and Controversies Surrounding Historical Economic Policies Quiz

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

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

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?

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

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?

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

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

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

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

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

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