Economic Policy: Influential Theories Flashcards
1
Q
classical economics
A
a group of early economic theories that focus on the establishment of economic freedoms
2
Q
coordinate
A
to work together to meet a goal
3
Q
laissez faire
A
the belief that governments should not be involved in economic affairs
4
Q
monetarianism
A
an economic policy that promotes stability through influencing the money supply
5
Q
Keynesian economics
A
an economic policy that promotes increase of aggregate demand, particularly by increasing expansionary policies
6
Q
the invisible hand
A
the idea that the economy naturally becomes more efficient as people pursue their own self-interests
