The Economic Theory That Opposes Governmental Interference in Economic Affairs

question 27

Multiple Choice

The economic theory that opposes governmental interference in economic affairs beyond what is necessary to protect life and property is known as

• A)trickle-down theory.
• B)protectionism.
• C)laissez-faire economics.
• D)socialism.
• E)Keynesianism.

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Definitions:

Imports

Goods and services brought into a country from abroad for sale.

Foreign Countries

Nations that are outside of one's own country, often referring to international relations or policies.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by the gross domestic product (GDP).

State Visits

Formal visits by a head of state to another country, characterized by ceremonial events and discussions on diplomatic relations.