Practice Quiz

Praxis II Social Sciences Content Knowledge Exam Prep

Category - Praxis Social Studies Practice Test

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Which of the following labels refers to the principle under which the government does not meddle with the economy?
  1. Supply-side economics policy
  2. Laissez-faire economics policy
  3. Elitist economics policy
  4. Monetarism
Explanation
Answer: B - Laissez-faire economics policy refers to the principle under which the government does not meddle with the economy. The principle under which our government does not meddle with the economy is known as laissez-faire policy. This doctrine opposes government interference in economic affairs beyond the minimum necessary to maintain peace and order. For the better part of United States history, our government has practiced this economic policy.

The French phrase laissez-faire literally means "allow to do," with the idea being "let people do as they choose." 
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