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Monetarism: Quiz


Question 1: This can be contrasted with the monetary policy advocated by supply side economics and the ________ which are based on a "value of money" target (albeit from different ends of the formula).
Austrian SchoolLudwig von MisesLew RockwellFriedrich von Hayek

Question 2: Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to accept ________ and then criticize it on his own terms.
Supply-side economicsJohn Maynard KeynesKeynesian economicsCapitalism

Question 3: The incoming Democratic president ________ reappointed Alan Greenspan, and kept him as a core member of his economic team.
Al GoreHoward DeanBill ClintonEd Rendell

Question 4: While most monetarists believe that government action is at the root of inflation, very few advocate a return to the ________.
Federal Reserve SystemSilver standardGold standardCentral bank

Question 5: The crucial test of this flexible response by the Federal Reserve was the ________ of 1997-1998, which the Federal Reserve met by flooding the world with dollars, and organizing a bailout of Long-Term Capital Management.
Black Monday (1987)1997 Asian Financial CrisisPhilippinesSubprime mortgage crisis

Question 6: In the late 1980s, Paul Volcker was succeeded by ________, a leading monetarist.
Objectivist movementAlan GreenspanAyn RandBen Bernanke

Question 7: The result was summarized in a historical analysis of monetary policy, Monetary History of the United States 1867-1960, which Friedman coauthored with ________.
Anna SchwartzGreat DepressionBen BernankeMilton Friedman

Question 8: The ________ officially bases its monetary policy on money supply targets.
Economic and Financial Affairs CouncilEurozoneEuropean Central BankEuro Group

Question 9: His handling of monetary policy in the run-up to the 1991 recession was criticized from the right as being excessively tight, and costing ________ re-election.
Gerald FordRonald ReaganGeorge H. W. BushRichard Nixon

Question 10: Monetarists argue that there was no inflationary investment boom in the 1920s, in contrast to both Keynesians and to economists of the ________, who argue that there was significant asset inflation and unsustainable GNP growth during the 1920s.
Austrian SchoolFriedrich von HayekLudwig von MisesLew Rockwell


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