Question

drag the tiles to the correct boxes to complete the pairs. match each economist to his economic belief. adam smith friedrich von hayek milton friedman john maynard keynes less government intervention gives people more economic freedom. government should not control the money supply. government intervention is necessary for stability. competition is a regulatory force

Explanation:

• Adam Smith is known for the idea that competition acts as a regulatory force in the economy (the "invisible hand" concept).
• Friedrich von Hayek emphasized that less government intervention gives people more economic freedom as he was a strong advocate of free - market capitalism and limited government.
• Milton Friedman believed that the government should not control the money supply in a strict sense (he was a monetarist but advocated for a rule - based approach to money supply growth rather than discretionary control).
• John Maynard Keynes proposed that government intervention is necessary for economic stability, especially through fiscal policy (e.g., government spending and taxation) to manage aggregate demand.

Answer:

• Adam Smith → Competition is a regulatory force.
• Friedrich von Hayek → Less government intervention gives people more economic freedom.
• Milton Friedman → Government should not control the money supply.
• John Maynard Keynes → Government intervention is necessary for stability.