Podcast
Questions and Answers
According to John Maynard Keynes, what is the main cause of unemployment?
According to John Maynard Keynes, what is the main cause of unemployment?
- Lack of competition
- Lack of central planning
- Lack of government intervention
- Lack of spending (correct)
During recessions, why does demand decrease?
During recessions, why does demand decrease?
- People have more money to spend
- People choose not to spend
- People spend on non-essential items
- People have less money to spend (correct)
What is Friedrich A. Hayek's view on central planning?
What is Friedrich A. Hayek's view on central planning?
- It is essential for economic growth
- It is beneficial for making economic decisions
- It is not good at making economic decisions (correct)
- It leads to healthy markets
According to Milton Friedman, why wouldn't government fine-tuning work?
According to Milton Friedman, why wouldn't government fine-tuning work?
What role does John Maynard Keynes suggest the government should play in economic management?
What role does John Maynard Keynes suggest the government should play in economic management?
What does Keynes propose the government should do during a market downturn?
What does Keynes propose the government should do during a market downturn?
What does Hayek believe is the result of less government intervention?
What does Hayek believe is the result of less government intervention?
What is the main criticism of government fine-tuning according to Friedman?
What is the main criticism of government fine-tuning according to Friedman?
What is the main purpose of government borrowing and spending in Keynesian economics?
What is the main purpose of government borrowing and spending in Keynesian economics?
What is the view of Hayek and Friedman on the role of government in economic decision-making?
What is the view of Hayek and Friedman on the role of government in economic decision-making?
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