NYC TRAINING 1_RELEVANT PEOPLE

Who is known as the "Father of Economics" and authored The Wealth of Nations?

• Karl Marx

• Adam Smith

• David Ricardo

• John Maynard Keynes

John Maynard Keynes is best known for advocating which type of economic policy?

• Laissez-faire capitalism

• Monetarism

• Government intervention during economic downturns

• Protectionism

Which economist developed the concept of "Comparative Advantage," which explains the benefits of trade?

• David Ricardo

• Adam Smith

• Milton Friedman

• Friedrich Hayek

Milton Friedman is best associated with which school of economic thought?

• Keynesian economics

• Classical economics

• Monetarism

• Marxism

Karl Marx argued that capitalism would eventually be replaced by what system?

• Mercantilism

• Feudalism

• Keynesianism

• Socialism

David Hume contributed to economics by discussing which of the following concepts?

• Quantity theory of money

• General equilibrium theory

• Game theory

• Labor theory of value

Irving Fisher is best known for his work on which economic concept?

• Quantity theory of money

• Market socialism

• Comparative advantage

• Creative destruction

Thomas Robert Malthus is famous for his theory on:

• Business cycles

• Supply-side economics

• Population growth and food supply

• Behavioral economics

Ludwig von Mises was a strong advocate of:

• Government control of markets

• Marxist economics

• Keynesian intervention

• Free-market capitalism and Austrian economics

Friedrich Hayek opposed government intervention in the economy and wrote which influential book?

• The Road to Serfdom

• Das Kapital

• The Wealth of Nations

• The General Theory of Employment, Interest, and Money