Quiz 13 Flashcards
Has the percentage of people employed by federal, state, and local governments increased or decreased since 1930s?
Increased
What standard was the US taken off in the 1930s and why?
Gold
In order to fund more public projects
Who believed that the government should confine its activities to that which is “truly and properly public”?
Edmund Burke
What economic system is based upon collective ownership and control of national resources?
Socialism
What economic philosophy is based on the belief that a society’s economic problems are best solved by “expert planners”?
Keynesianism
What was the name of President Franklin Roosevelt’s plan that was enacted in the midst of the Great Depression?
New Deal
What is a large, complex organization composed of appointed officials and their numerous agencies and departments called?
Bureaucracy
What are the five harmful governmental practices discussed?
excessive taxation inflation and debasement of money excessive public expenditure excessive regulation political plundering
What is an established system of political administration by which a nation, state, society, or organization is ruled?
Government
Who wrote “The Wealth of Nations”?
Adam Smith
