Who proposed two objects for political economy: the first to enable the people to supply a plentiful revenue for themselves and the second, to endow the state with sufficient revenue to provide public services?
Milton Friedman
J. K. Galbraith
John Maynard Keynes
Adam Smith
Who said, ‘inflation is always and everywhere a monetary phenomenon’?
Milton Friedman
J. K. Galbraith
John Maynard Keynes
Adam Smith
Which one of these countries is a liberal market economy?
United States
China
Russia
Germany
Which one of these countries is a coordinated market economy?
United States
China
Russia
Germany
In a liberal market economy, wage negotiations mainly operate at
transnational level
national level
sectoral level
firm level
Which phrase is used to describe a state that leads a society to rapid industrialization by combining a powerful bureaucracy, which formulates national economic targets, with private ownership of the means of production?