ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Because of the coronavirus, the city of Majorica, Spain, is experiencing low tourism and a fall in economic activity. They decide to let the market correct itself. This would be an example of which economists theory?
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Fredrich von Hayek
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John Maynard Keynes
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Spain has a mixed capitalist economy. The Spanish economy is the fifth-largest in Europe behind Germany, United Kingdom, Italy and France; and the fourth-largest in the Eurozone, based on nominal GDP statistics.
Detailed explanation-2: -Spain has a mixed capitalist economy in which there is a variety of private freedom, combined with centralized economic planning and government regulation.
There is 1 question to complete.