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Hayek on Free Enterprise Practice Questions

Hayek wrote his essay at a time when ideologies about the role of the state tended toward: *

a. Liberalism

b. Fascism and totalitarianism

c. Welfare statism

Hayek thought that classical liberals should move beyond merely discussing ways to limit the state because: *

a. It wasn’t important to limit the state

b. Strong limits on state action were already in place in many countries around the world

c. It’s important to consider areas of action in which the state could perform better than the market

Which one of the following is NOT one of the areas in which Hayek thinks government should have a hand: *

a. Licensing policies

b. Monetary policy

c. Land rights management

What was Hayek’s worry about patents? *

a. That not enough patents would be issued to adequately protect innovators

b. That patents would grant monopoly power to some enterprises

c. That patents would become superfluous in the future because alternative arrangements would evolve

What useful purpose did Hayek see for trade unions? *

a. Protecting the rights and interests of workers

b. Negotiating minimum wage requirements

c. Blocking entry into unionized industries

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Great Economists Classical Economics and Its Forerunners

Course (112 videos)

Before Adam Smith, Part 1

Galileo and the theory of value

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School of Salamanca

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Why did economics develop so slowly?

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Cesare Beccaria

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Introduction to Mercantilism

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Nicholas Barbon

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Sir William Petty

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Bernard Mandeville

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Before Adam Smith, Part 2

Richard Cantillon

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Anne-Robert-Jacques Turgot

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Francois Quesnay

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David Hume on interest

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David Hume on the balance of trade

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David Hume on public debt

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David Hume on money

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David Hume on taxes

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Which ideas were developed in early classical economics?

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Adam Smith

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Adam Smith’s Theory of Growth

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What I learned from Adam Smith

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Adam Smith, Book 1, Ch. 3, Extent of the Market

Adam Smith, Book 1, Ch. 4, Origin and Use of Money

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Adam Smith, Book 1, Ch. 5, Real and Nominal Price

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Adam Smith, Book 1, Ch. 6, Component Parts of Price

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Adam Smith, Book 1, Ch. 7, Natural Price and Market Price

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Adam Smith, Book 1, Ch. 8, Wages of Labor

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Adam Smith, Book 1, Ch. 9, Profits of Stock

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Adam Smith, Book 1, Ch. 10, Inequalities of Wages

Adam Smith, Book 1, Ch. 11, Rent of Land

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Adam Smith, Book 1, Ch. 11, Digression on Silver

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Wealth of Nations, Book Two

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Adam Smith, Book 2, Ch. 2, Of Money

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Adam Smith, Book 2, Ch. 3, Unproductive Labor

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Adam Smith, Book 2, Ch. 4, Interest and Usury

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Adam Smith, Book 2, Ch. 5, Employment of Capitals

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Wealth of Nations, Book Three

Adam Smith, Book 3, Ch. 1, Progress of Opulence

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Adam Smith, Book 3, Ch. 3, Cities and Towns

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Adam Smith, Book 3, Ch. 4, Towns and Country

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Wealth of Nations, Book Four

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Adam Smith, Book 4, Ch. 2, Restraints Upon Production

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Adam Smith, Book 4, Ch. 3, 4-5

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Adam Smith, Book 4, Ch. 6, Commerce Treaties

Adam Smith, Book 4, Ch. 7, Of Colonies

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Adam Smith, Book 4, Ch. 8, Mercantile Conclusions

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Adam Smith, Book 4, Ch. 9, Agricultural Systems

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Adam Smith, Book 4, Digression on Corn

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Wealth of Nations, Book Five

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Adam Smith, Book 5, Ch. 1, pt. 2, Expense of Justice

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Adam Smith, Book 5, Ch. 1, pt. 3, Public Works

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Adam Smith, Book 5, Ch. 1, pt. 3, article 2, Education of Youth

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Adam Smith, Book 5, Ch. 1, pt. 3, article 3, Religious Instruction

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Adam Smith, Book 5, Ch. 1, pt. 4, Expense of the Sovereign

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Adam Smith, Book 5, Ch. 2, pt. 1-2, Sources of the Public Revenue

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Adam Smith, Book 5, Ch. 2, pt. 3, article 4, Taxes on Commodities

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Adam Smith in the Custom House

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After Adam Smith, Part One

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Jean-Baptiste Say

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Malthus on population

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Malthus on demand

Jeremy Bentham on government debt

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Introduction to Ricardo

Life of Robert Torrens

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Ricardo on rent

Robert Torrens and sliding tariffs

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Robert Torrens on strategic trade policy

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Mountifort Longfield

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Edward Gibbon Wakefield

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After Adam Smith, Part Two

Frederic Bastiat on the Seen and Unseen

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Frederic Bastiat and the Candlemakers’ Petition

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John Stuart Mill, terms of trade

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Life of John Stuart Mill

Mill on Bentham

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Economists in Parliament

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Bullionist debates, Part II

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The Poor law debates

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The Machinery question

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The Corn Law debates

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Peel’s Act of 1844 and the Currency School

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The India question

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Friedrich A. Hayek’s Individualism and Economic Order

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Hayek on Competition and Discovery

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Profit and Loss Calculation

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Hayek on Socialist Calculation

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Hayek on the Gold Standard and Commodity Reserve Currency

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Hayek on Interstate Federalism and Free Trade

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Hayek on Free Enterprise

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What I Learned from Hayek

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